ACCT 5346:ADVANCED ACCOUNTING>CUSTOM<
ACCT 5346:ADVANCED ACCOUNTING>CUSTOM<
13th Edition
ISBN: 9781307158120
Author: HOYLE SCHAEFE
Publisher: MCG/CREATE
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Chapter 11, Problem 13P

Which of the following statements is true for a foreign company registered with the U.S. SEC to list its stock on the New York Stock Exchange?

a. The company must file an annual report with the SEC that is prepared in accordance with U.S. GAAP.

b. The company may file an annual report with the SEC that is prepared in accordance with IFRS but must also provide a reconciliation of IFRS to U.S. GAAP.

c. The company must file an annual report with the SEC that is prepared in accordance with IFRS but must also provide a reconciliation of IFRS to U.S. GAAP.

d. The company may file an annual report with the SEC that is prepared in accordance with IFRS but need not also provide a reconciliation of IFRS to U.S. GAAP.

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