The Benefits of a Single Set of Accounting Standards Used

question 51

Multiple Choice

The benefits of a single set of accounting standards used around the world would include all of the following except:

• A) They would eventually save companies considerable money in accounting fees.
• B) They would prevent competitors from acquiring each other.
• C) They would allow easier comparisons by analysts and investors.
• D) They would facilitate access to foreign capital markets.

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Definitions:

Service Representative

An individual who represents a company or service, providing assistance, information, and support to customers or clients.

Vendor

A third-party supplier or service provider that sells products or services to organizations or individuals.

Contingency Fund

A reserve of money set aside to cover unexpected costs or financial shortfalls during a project.

Organization Type

Categorizes an entity based on its purpose, structure, and operations, such as non-profit, corporation, or government entity.