What Is the Probable Reason That Many Foreign Countries Provide

question 1

Multiple Choice

What is the probable reason that many foreign countries provide convenience translations of their financial statements into English?

• A)U.S.GAAP is the most widely used set of financial accounting standards.
• B)Globalization of capital markets has increased the demand for English language financial statements.
• C)England is the home of more multinational corporations than any other country.
• D)The Securities and Exchange Commission requires all foreign companies doing business in the U.S.to provide English translations.

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Definitions:

United States

A country in North America consisting of 50 states and a federal district, known for its large economy and diverse population.

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Forgo

To abstain or refrain from something, often referring to the opportunity or choice given up in decision making.

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A diagnostic strip used for conducting tests on various bodily fluids, such as urine, by changing color to indicate the presence or concentration of certain substances.