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.

Question

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The SEC currently requires U.S. domestic companies to use Generally Accepted Accounting Principles (GAAP) for financial reporting in the U.S. However, there have been discussions about potentially allowing or requiring the use of IFRS in the future.

If a USdomestic Company Does Business in a Foreign Country,the Securities and Securities