Jack provides heating and air conditioning equipment for office buildings. He sells ________

A localization strategy makes sense when there are substantial differences across nations with regard to ____________________, and where cost pressures are __________

Fill in the blank(s) with the appropriate word(s).

U.S. GAAP and IFRS require firms in some instances to change the carrying value of certain assets and liabilities. Both sets of accounting standards preclude the recognition of these changes in net income, and therefore in retained earnings

Indicate whether the statement is true or false