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.

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Definitions:

Settlement

The resolution or agreement reached between parties in a dispute, often involving the payment or receipt of money without going to trial.

Professional Tone

A manner of communication that is formal, respectful, and suited for business or workplace environments.

Routine, Positive Messages

Messages that are regularly communicated and convey affirmative or positive information.

Letters of Recommendation

Written endorsements that articulate an individual's qualifications, character, and abilities, typically for academic or job purposes.