Companies Operating in Australia and Overseas Must Follow Which Accounting

question 28

Multiple Choice

Companies operating in Australia and overseas must follow which accounting standards?

• A) Both IFRS and local GAAP.
• B) Local generally accepted accounting principles only.
• C) IFRS only.
• D) FASB.

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Definitions:

Abolitionist Movement

A historic movement aimed at ending slavery and the slave trade, prominent in the 18th and 19th centuries, particularly in the United States and Great Britain.

Black Senators

African American members of the U.S. Senate; their presence in the Senate has been historically significant due to the racial barriers they've had to overcome to serve.

Political Gains

Refers to advancements or successes in the political arena, such as the election of officials from underrepresented groups, passage of progressive legislation, or shifts in public policy to be more inclusive.

Thirteenth Amendment

An amendment to the U.S. Constitution that abolished slavery and involuntary servitude, except as punishment for a crime.