It Is Possible to Determine the Degree of Conservatism of U.K

question 6

Multiple Choice

It is possible to determine the degree of conservatism of U.K versus U.S. GAAP, because

• A) British firms must disclose the difference due to London Stock Exchange requirements.
• B) British firms voluntarily disclose the difference in order to attract U.S. investors.
• C) British firms who list an American Depositary Receipt (ADR) or an actual share in the United States must disclose the difference in earnings.
• D) all of the above.

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Definitions:

Chondrichthyes

The class of cartilaginous fishes that includes the sharks, rays, and skates.

Lungs

Main organs of the respiratory system, involved in the exchange of oxygen from the atmosphere with carbon dioxide from the blood.

Evolved

A term referring to the process by which species undergo gradual changes in their genetic composition and traits over generations, often in response to environmental pressures.

Lungfishes

A group of freshwater fishes that have the ability to breathe air using lungs, in addition to gill breathing.