Which of the Following Statements Is True Regarding the SEC's

question 35

Multiple Choice

Which of the following statements is true regarding the SEC's timeline for convergence?

• A)The SEC has no immediate plans to converge GAAP reporting with IFRS standards.
• B)The SEC has a plan in place to allow firms to begin filing in the United States based on IFRS during the next four to five years.
• C)The SEC has a plan in place to allow companies to choose to file statements under GAAP reporting or IFRS standards indefinitely.
• D)The SEC currently allows domestic companies to choose to file financial statements under either GAAP or IFRS reporting standards.

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Definitions:

Constitution

Core doctrines or established benchmarks that direct the administration of a state or comparable organizations.

Federal Judges

Appointed officials who serve in the United States federal courts, including the Supreme Court, Appeals Courts, and District Courts, responsible for interpreting and applying federal laws.

Popular Vote

The total number or percentage of votes cast by the electorate in an election, as opposed to the number of electoral votes or seats won.