Question

In: Accounting

The IFRS Taxonomy is accepted for use by the SEC for foreign companies using IFRS still...

The IFRS Taxonomy is

accepted for use by the SEC for foreign companies using IFRS

still being considered for use by the SEC

required by the EU as of January 1, 2020

both A. and C.

Solutions

Expert Solution

Ans is

accepted for use by the SEC for foreign companies using IFRS - True ( Reason- for a fiscal period ending on or after December 15, 2017, IFRS Taxonomy is a must for foreign issuer)

still being considered for use by the SEC- False ( reason:- since it is accepted by SEC, hence no consideration is no more relevant)

required by the EU as of January 1, 2020- True

Therefore, the answer is both A and C.

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