2 For SEC reporting, Foreign Private Issuers (FPIs) may use (A) Any one of these (B) None of these because foreign companies do not report to the SEC (C) U S GAAP (D) IFRS as issued by the IASB with no reconciliation to US GAAP (E) home country GAAP with reconciliation to U S GAAP 2 Both US GAAP and IFRS balance sheets present the same information though sometimes with different labels, but the information is always in a different order because IFRS requires companies to use the reverse liquidity ordering True False

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Question: 2. For SEC reporting, Foreign Private Issuers (FPIs) may use: (A) Any one of these (B) None of these because foreign companies do not report

2. For SEC reporting, Foreign Private Issuers (FPIs) may use:

		(A) Any one of these
		(B) None of these because foreign companies do not report to the SEC.
		(C) U. S. GAAP.
		(D) IFRS as issued by the IASB with no reconciliation to US GAAP.
		(E) home-country GAAP with reconciliation to U. S. GAAP

2. Both US GAAP and IFRS balance sheets present the same information though sometimes with different labels, but the information is always in a different order because IFRS requires companies to use the reverse-liquidity ordering.

		True
		False

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