Which of the Following Statements Is FALSE

question 33

Multiple Choice

Which of the following statements is FALSE?

• A)The SEC permits the use of IFRS-based financial statements by international companies with shares trading on U.S.stock exchanges.
• B)Non-U.S.companies operate in the United States but prepare their financial statements using IFRS.
• C)The SEC is currently deliberating if IFRS will be required to be used by U.S.companies.
• D)The accounting profession has determined that a working knowledge of IFRS is not important for accountants working in the United States.

Describe the forms of business organization and evaluate their advantages and disadvantages.

Delineate the classifications and the foundational documents of corporations.

Understand corporate governance, including the selection and duties of directors and officers, as well as their fiduciary duties.

Explain the structure and characteristics of a limited liability company (LLC).

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Definitions:

Big Five

A model outlining five broad dimensions of personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification of mental disorders by the American Psychiatric Association.

Less Categorical

Pertains to approaches or classifications that are less rigid and more flexible.

Personality Disorders

Personality disorders are a class of mental disorders characterized by enduring maladaptive patterns of behavior, cognition, and inner experience, shown across many contexts and deviating from cultural norms.