Which of the Following Is Not a Way for a Country

question 15

Multiple Choice

Which of the following is not a way for a country to use IFRS?

• A) Require foreign companies listed on that country's stock exchange to use IFRS for consolidated financial statements.
• B) Allow foreign companies listed on that country's stock exchange to use IFRS.
• C) Permit its domestic companies listed on that country's stock exchange to use IFRS.
• D) Adopt IFRS as that country's national GAAP.
• E) Prohibit the use of a country's national GAAP.

---

Definitions:

Earnings

The amount of money that an individual or business receives in exchange for labor, products, or investments, typically measured over a certain period of time.

Sociologists

Experts who study society and social behavior by examining the groups, cultures, organizations, social institutions, and processes that people develop.

Culture of Poverty

A concept suggesting that poverty is not just a result of economic insufficiency but is also shaped by values and behaviors passed down within impoverished communities that hinder their members from escaping poverty.

Fatalistic

Pertaining to the belief that all events are predetermined and therefore inevitable, leading to a resignation to outcomes.