According to Form 20-F of the U.S. SEC

question 4

Multiple Choice

According to Form 20-F of the U.S. SEC,

• A) U.S. firms are required to disclose the amount of their foreign earnings.
• B) foreign firms are required to reconcile their earnings with what earnings would have been under U.S. GAAP.
• C) foreign firms do not have to disclose the reasons why their GAAP differs from U.S. GAAP, only the amount of the difference.
• D) the index of conservatism must be disclosed in order to determine the degree to which income differs under different GAAP.

---

Definitions:

Political Choices

Decisions made by individuals, groups, or governments that relate to the governance of a country, state, or local area.

Public Choice Analysis

A branch of economics that studies the decision-making behaviors of voters, politicians, and government officials from the perspective of economic theory.

Public Sector

The part of the economy that is owned and operated by government entities, providing services and goods to the public.

Individual Actors

Single entities, such as persons or companies, that perform actions or make decisions in economic, social, or political contexts.