If a U.S. domestic company does business in a foreign country, the Securities and Exchange Commission (SEC) requires th
Posted: Sat Aug 07, 2021 6:38 am
If a U.S. domestic company does business in a foreign country, the Securities and Exchange
Commission (SEC) requires the use of International Financial Reporting Standards (IFRS) for
the company's financial reporting in the U.S.
Answer: FALSE
Explanation: The SEC is considering the appropriateness of International Financial Reporting
Standards (IFRS) for U.S. domestic companies. IFRS is not used for U.S. companies reporting in
the U.S
Commission (SEC) requires the use of International Financial Reporting Standards (IFRS) for
the company's financial reporting in the U.S.
Answer: FALSE
Explanation: The SEC is considering the appropriateness of International Financial Reporting
Standards (IFRS) for U.S. domestic companies. IFRS is not used for U.S. companies reporting in
the U.S