Given the global nature of the financial markets, investors, (1)_, are frequently making investments in companies that are located all over the world. While many companies located outside the U.S. prepare financial statements in accordance with (2)_, financial statements of U.S.-based entities are based on (3)_. (4)_ in the basis of presentation make the analysis of U.S. and non-U.S.-based company financial statements (5)_.

(1) a.abroad, b. both in the U.S. and abroad, c. in the U.S.

(2) a. IFRS, b. ISAs, c. U.S. G.A.A.P

(3) a. IFRS, b. ISAs, c. U.S. G.A.A.P

(4) a. Differences, b. Similarities

(5) a. difficult, b. impossible