Which of the following statements is false? a. GAAP is based on a conceptual framework that is

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Which of the following statements is false?

a. GAAP is based on a conceptual framework that is similar to that used to develop IFRS.

b. FASB and the IASB are working on a joint project related to the conceptual framework.

c. Non-U.S. companies that trade shares in U.S. markets must reconcile their accounting with GAAP.

d. Proprietorships, partnerships, and corporations are also found in countries that use IFRS.

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Financial Accounting With International Financial Reporting Standards

ISBN: 9781119787051

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 04, 2024 04:57 AM

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Which of the following statements is false? a. GAAP is based on a conceptual framework that is

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The false statement is c NonUS companies that trade shares in US markets must reconcile their accoun...View the full answer

Financial Accounting With International Financial Reporting Standards

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