Which of the Following Statements Is True About Convenience Translations

question 8

Multiple Choice

Which of the following statements is true about convenience translations of financial statements?

• A)International Business Machines (IBM) is the only corporation in the U.S.that currently provides convenience translation of its financial statements into a foreign language.
• B)Few U.S.-based companies translate their financial statements into another language.
• C)Convenience translation means that a company will translate its financial statements into English.
• D)All of the above statements are true.

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Definitions:

Surpasses Objectives

Achieving beyond the set goals or targets in a given task or project.

Internal Control Strategy

Measures adopted by an organization to ensure accuracy and integrity of its financial reporting, compliance with laws and regulations, and efficiency of operations.

High Degree

A significant amount or level of something, often indicating intensity, quality, or scale.

Trust

The belief in the reliability, truth, ability, or strength of someone or something, critical in personal and professional relationships.