Which of the Following Is Not a Current Trend in Accounting-Standards

question 40

Multiple Choice

Which of the following is not a current trend in accounting-standards setting?

• A) increase in political involvement
• B) move toward principles-based system
• C) focus on asset/liability approach
• D) emphasis on measuring fair value

---

Definitions:

Primary

Relating to the first or earliest stage, level, or period; often signifies something that is of most importance.

Secondary

Pertains to the second level or stage in a sequence, often referring to education that follows primary or elementary education.

Capitalist Economy

An economic system based on private ownership of the means of production and the creation of goods or services for profit.

Regulation

The establishment of rules by government or other authorities to control or govern conduct within a specific area.