Which of the Following Statements Is True About Convenience Translations

question 27

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.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:

Individualism

The principle of being independent and self-reliant, often prioritizing personal freedom and goals over collective ones.

Collectivism

A cultural value that emphasizes the importance of groups and the collective over the individual, promoting interdependence and cooperation.

Reciprocal Determinism

A psychological principle indicating that an individual's actions are simultaneously shaped by and shape their own characteristics and the surrounding milieu.

Self-serving Bias

The common tendency to attribute positive events to one's own character but attribute negative events to external factors.