Accountants Have Historically Used Generally Accepted Accounting Principles When Preparing

question 109

True/False

Accountants have historically used generally accepted accounting principles when preparing financial reports,but in 2011 many companies switched to the new international accounting standards.

---

Definitions:

Global South

A term used to describe countries considered lower-income and predominantly situated in the Southern Hemisphere, often focusing on their development challenges.

College Educations

Formal post-secondary training or instruction received at colleges or universities, which can lead to an associate's, bachelor's, master's, or doctoral degree.

Political Stability

Political stability refers to the durability and integrity of a current government regime or political system, often indicating a lack of turmoil or frequent government changes.

Interest Rates

The cost of borrowing money or the reward for saving, typically expressed as a percentage.