The SEC Currently Requires Foreign Companies That List Shares on U.S

question 23

Multiple Choice

The SEC currently requires foreign companies that list shares on U.S. exchanges to provide

• A) both complete U.S. GAAP financial statements and a reconciliation of their reported income under non-U.S. GAAP to the reported income under U.S. GAAP.
• B) only complete U.S. GAAP financial statements; the SEC will not accept under any circumstances only a reconciliation of an entity's reported income under non-U.S. GAAP to reported income under U.S. GAAP.
• C) complete U.S. GAAP financial statements or a reconciliation of their reported income under non-U.S. GAAP to reported income under U.S. GAAP.
• D) only a reconciliation of their reported income under non-U.S. GAAP to reported income under U.S. GAAP; the SEC will not accept under any circumstances only a complete set of U.S. GAAP financial statements.

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Definitions:

Common Cold

A viral infectious disease of the upper respiratory tract that primarily affects the nose, throat, sinuses, and larynx.

Influenza

A highly contagious viral infection of the respiratory passages causing fever, severe aching, and often leading to serious complications.

Allergy

A condition in which the immune system reacts abnormally to a foreign substance, causing adverse effects.

Slight Muscle Aches

Slight Muscle Aches refer to minor or mild discomfort, soreness, or pain in the muscles, often resulting from physical exertion or tension.