What is the probable reason that many foreign countries provide convenience translations of their financial statements into English?
A)U.S.GAAP is the most widely used set of financial accounting standards.
B)Globalization of capital markets has increased the demand for English language financial statements.
C)England is the home of more multinational corporations than any other country.
D)The Securities and Exchange Commission requires all foreign companies doing business in the U.S.to provide English translations.

Question

Quizplus · Accepted Answer

The globalization of capital markets has increased the demand for English language financial statements as investors from different countries may want to invest in a foreign company and need to understand their financial position. Therefore, providing convenience translations in English has become a common practice for many foreign countries.

What Is the Probable Reason That Many Foreign Countries Provide