Which of the following statements about the value chain is not correct? Multiple Choice US...
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Which of the following statements about the value chain is not correct? Multiple Choice US companies with operations in countries that require IFRS only need to file financial reports that conform with IFRS. US companies that are subsidiaries of publicly traded international firms headquartered in countries that require IFRS must prepare IFRS financial statements, or be able to reconcile their US GAAP statements with IFRS for inclusion in the consolidated financial statements of the parent companies. IFRS requires that many R&D activities be capitalized, whereas US GAAP requires that most R&D expenditures be expensed immediately. US companies with operations in countries that require IFRS may need to file financial reports that conform with both local GAAP and IFRS. 
Which of the following statements about the value chain is not correct?
Multiple Choice
US companies with operations in countries that require IFRS only need to file financial reports that conform with IFRS.
US companies that are subsidiaries of publicly traded international firms headquartered in countries that require IFRS must prepare IFRS financial statements, or be able to reconcile their US GAAP statements with IFRS for inclusion in the consolidated financial statements of the parent companies.
IFRS requires that many R&D activities be capitalized, whereas US GAAP requires that most R&D expenditures be expensed immediately.
US companies with operations in countries that require IFRS may need to file financial reports that conform with both local GAAP and IFRS.
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