_____ must be used by U.S.Securities and Exchange Commission (SEC) registrants.
A)U.S.GAAP
B)International Financial Reporting Standards (IFRS)
C)U.S.GAAS
D)International GAAP
E)International GAAS

Question

Quizplus · Accepted Answer

U.S. SEC registrants must use U.S. Generally Accepted Accounting Principles (GAAP) for financial reporting. While IFRS is gaining acceptance in some countries, it is not required in the United States. U.S. Generally Accepted Auditing Standards (GAAS) and International GAAP and GAAS are related to auditing and are not relevant to this question.

_____ Must Be Used by U