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

question 82

True/False

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.

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Definitions:

Reacquired Shares

Shares that have been repurchased by the issuing company, reducing the amount of outstanding stock on the open market.

Common Stock

Common Stock represents equity ownership in a corporation, granting holders voting rights and a share in the company's profits through dividends.

Retained Earnings

The portion of net income left over for the business after it has paid out dividends to its shareholders, indicated on the balance sheet.

Net Income

The conclusive profit of a corporation post-deduction of all operational costs and taxation from the aggregate revenue.