Choose the correct. Which of the following best describes the extent to which the SEC requires or permits the use of IFRS by U.S. public companies?a. U.S. public companies are required to use IFRS.b. U.S. public companies may choose between IFRS and U.S. GAAP.c. U.S. public companies may use IFRS, but must also provide a reconciliation to U.S. GAAP.d. U.S. public companies are neither required nor allowed to use IFRS.
Choose the correct. Which of the following best describes the extent to which the SEC requires or permits the use of IFRS by U.S. public companies?a. U.S. public companies are required to use IFRS.b. U.S. public companies may choose between IFRS and U.S. GAAP.c. U.S. public companies may use IFRS, but must also provide a reconciliation to U.S. GAAP.d. U.S. public companies are neither required nor allowed to use IFRS.
Chapter8: International Cases
Section8.4: Republic Of The Sudan
Problem 2Q
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Choose the correct. Which of the following best describes the extent to which the SEC requires or permits the use of IFRS by U.S. public companies?
a. U.S. public companies are required to use IFRS.
b. U.S. public companies may choose between IFRS and U.S. GAAP.
c. U.S. public companies may use IFRS, but must also provide a reconciliation to U.S. GAAP.
d. U.S. public companies are neither required nor allowed to use IFRS.
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