Which of the Following Is Not a Concern Expressed by the SEC

question 113

Multiple Choice

Which of the following is not a concern expressed by the SEC regarding IFRS adoption by the U.S.?

• A) Need for the U.S. to have strong influence on the standard-setting process and ensure that standards meet U.S. needs.
• B) The language barriers associated with cooperation among many countries in developing IFRS.
• C) The high costs to companies of converting to IFRS.
• D) The fact that many laws, regulations and private contracts reference U.S. GAAP.

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Definitions:

Basic Research

Investigation and study conducted to increase fundamental knowledge and understanding of physical, chemical, or functional mechanisms, without immediate practical application.

Temporal Precedence

A principle in establishing causation indicating that the cause must occur before the effect.

Covariation

The measure of how much two variables change together, indicating the extent to which they are associated.

Alternative Explanations

Entails considering different reasons or theories that could explain observed data or phenomena, beyond the primary hypothesis.