The Agreement in 2002 by the FASB and IASB to Develop

question 75

Multiple Choice

The agreement in 2002 by the FASB and IASB to develop high quality, compatible accounting standards that could be used by both domestic and cross-border financial reporting was called the

• A) International Accounting Standards agreement
• B) Financial Accounting Standards Board Global agreement
• C) Norwalk agreement
• D) United GAAP agreement

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Definitions:

Return on Total Assets

A financial ratio that measures the effectiveness of a company in generating profit from its overall assets, calculated by dividing net income by total assets.