A foreign firm has stock that can be purchased in New York,London,and Tokyo.The firm must be using an:

Question

Quizplus · Accepted Answer

GDR (Global Depository Receipts) is a financial instrument used by foreign companies to raise capital in the international market. GDRs are issued by international banks against a company's shares, which can be traded in major international stock markets such as New York, London, and Tokyo. Therefore, the foreign firm is using GDRs to offer their shares in multiple markets. ADR (American Depository Receipts) is a similar financial instrument, but it is specifically used by non-U.S. companies to offer their shares in the United States. Variant stock and preferred stock are not relevant in this scenario.

A Foreign Firm Has Stock That Can Be Purchased in New