Which of the following statements is/are FALSE: I. US GAAP allows less accounting choice than IFRS. II. If financial reporting was not regulated, companies would likely face a lower cost of capital. III. There is higher demand for the services of chartered accountants in jurisdictions with well-developed equity markets, which are dominated by many outside shareholders (widespread ownership) and where the tax rules are the accounting rules. IV. IFRS applies to listed companies in 130+ jurisdictions around the world. Select one: a. III and IV b. I, II, III c. II and III d. I and III e. II, III, IV f. I and II
Which of the following statements is/are FALSE: I. US GAAP allows less accounting choice than IFRS. II. If financial reporting was not regulated, companies would likely face a lower cost of capital. III. There is higher demand for the services of chartered accountants in jurisdictions with well-developed equity markets, which are dominated by many outside shareholders (widespread ownership) and where the tax rules are the accounting rules. IV. IFRS applies to listed companies in 130+ jurisdictions around the world. Select one: a. III and IV b. I, II, III c. II and III d. I and III e. II, III, IV f. I and II
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following statements is/are FALSE:
I. US GAAP allows less accounting choice than IFRS.
II. If financial reporting was not regulated, companies would likely face a lower cost of capital.
III. There is higher demand for the services of chartered accountants in jurisdictions with well-developed equity markets, which are dominated by many outside shareholders (widespread ownership) and where the tax rules are the accounting rules.
IV. IFRS applies to listed companies in 130+ jurisdictions around the world.
Select one:
a.
III and IV
b.
I, II, III
c.
II and III
d.
I and III
e.
II, III, IV
f.
I and II
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