Which of the Following Is Not a Reason Why an Accountant

question 65

Multiple Choice

Which of the following is not a reason why an accountant in the United States should learn international accounting standards?

• A) The United States has plans to adopt IFRS in the near future.
• B) The SEC permits the use of IFRS-based financial statements by international companies with shares trading on the U.S. stock exchanges.
• C) An accountant may work for, or assist, a foreign company that operates in the U.S. and uses IFRS for financial reporting.
• D) U.S. companies operate subsidiaries outside of the United States which report under IFRS in their home countries.

Calculate net income from various financial metrics including tax rate, turnover ratios, and operating expenses.

Analyze a firm's liquidity and operational efficiency through calculation of cash accounts and turnover ratios.

Evaluate a firm's capital structure and compute potential asset acquisitions or liabilities through financial data.

Understand how to calculate and analyze financial ratios and turnovers.

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Definitions:

Consensual Unions

Relationships where couples live together and have a sexually intimate relationship without being legally married.

Informal Unions

Relationships where couples live together and consider themselves married without a formal legal ceremony.

Cohabitation

The condition of cohabitating and engaging in a sexual partnership without the legal bonds of matrimony.

Triangular Theory

Refers to Sternberg's Triangular Theory of Love, emphasizing that love consists of three components: intimacy, passion, and commitment, each forming a vertex of a triangle.