Solved

In the United States, Foreign Companies Filing Annual Reports with the SEC

Question 2

Multiple Choice

In the United States, foreign companies filing annual reports with the SEC that are not prepared in accordance with U.S. GAAP must:

A) present financial statements that comply with international GAAP.
B) conform with U.S. GAAP or present a reconciliation to U.S. GAAP.
C) have a demonstrated need for capital to be used for operations in the U.S.
D) use the U.S. dollar as their reporting currency.
E) use IFRS, or use foreign GAAP and provide a reconciliation to U.S. GAAP.

Correct Answer: