Which of the Following Is Not a Reason One Set

question 157

Multiple Choice

Which of the following is not a reason one set of international accounting standards are needed?

• A) Multinational corporation.
• B) Financial markets.
• C) Information technology.
• D) All of these answer choices are reasons one set of international accounting standards are needed.

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Definitions:

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named or to the bearer.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law relating to business and commerce across states.

Commercial Paper

Short-term, unsecured promissory notes issued by companies to finance their operations, often with maturities of less than 270 days.

Sum Certain

A specific, fixed amount of money that is clear and unambiguous in a legal agreement or financial transaction.