Which of the Following Statements Is False

question 93

Multiple Choice

Which of the following statements is false?

• A) Proprietorships, partnerships, and corporations are also found in countries that use IFRS.
• B) Non-U.S companies that trade shares in U.S markets must reconcile their accounting with GAAP.
• C) FASB and the IASB are working on a joint project related to the conceptual framework.
• D) GAAP is based on a conceptual framework that is similar to that used to develop IFRS.

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Definitions:

Public Sector Unionization

The process or practice of organizing workers within public sector entities, such as government agencies or public schools, into labor unions to advocate for better wages, benefits, and working conditions.

Private Sector Unionization

The process or state of organizing workers into unions within privately owned businesses, as opposed to public sector or government employees.

Conspiracy Doctrine

A legal theory that views a combination of workers for the purpose of demanding better working conditions or wages as a criminal conspiracy.

National Labor Relations Act

A foundational U.S. law enacted in 1935 that protects the rights of employees to organize, engage in collective bargaining, and take collective action including strikes.