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:

Equal

Having the same value, measure, or quantity as another object or condition.

Plato

An eminent figure in philosophy, whose work laid the foundations for Western philosophical thought, emphasizing forms, ethics, and political theory.

Feminism

A movement for advocating women's rights on the ground of equality of the sexes.

Negative Rights

Rights that require others to refrain from interfering with an individual's freedoms or liberties, such as the right to speech or privacy.