US GAAP
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A foreign-based company must use US GAAP if it wants to have its stock traded on a US stock exchange.
Group of answer choices
True
False
Expert Solution
The need for use of US GAAP by foreign-based company
The foreign company wants to have its stock traded on a US stock exchange can use US GAAP, IFRS or the accounting standards of home country in their financial statements.
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