In Order to Increase Comparability, in Recent Years, the FASB

question 223

Multiple Choice

In order to increase comparability, in recent years, the FASB and IASB have made efforts to reduce the differences between U.S.GAAP and IFRS through a process known as

• A) convergence
• B) monetary unit assumption
• C) the cost principle
• D) the fair value principle

---

Definitions:

Operating Departments

Operating Departments are the units or divisions within an organization responsible for carrying out its primary business activities.