The US Chamber of Commerce Is Against the Accounting Switch from from GAAP

question 84

True/False

The U.S. Chamber of Commerce is against the accounting switch from GAAP to IFRS, saying it will cause cross-border commerce to decline.

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Definitions:

Ethical Philosophy

Ethical philosophy explores the fundamental questions of right and wrong, virtue and vice, and moral responsibility.

Ethical Codes

Formalized sets of ethical guidelines developed by some companies for use at all levels of an organization.

Formalized Sets

Established or official groups or collections of objects, rules, or standards that are systematically organized.

Guidelines

Recommended principles or practices that serve as a framework or advice for conduct or action.