Which of the Following Organizations Issues Accounting Standards for Countries

question 13

Multiple Choice

Which of the following organizations issues accounting standards for countries outside the United States?

• A)SEC
• B)GAAP
• C)IASB
• D)FASB

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Definitions:

Final Goods

Products that have completed the manufacturing process and are ready for use by consumers or businesses without further transformation.

World System Theory

A socioeconomic theory that views the global economy as a complex system governed by a capitalist world economy divided into core, semi-periphery, and periphery countries.

Global Inequality

The uneven distribution of resources, wealth, opportunities, and power across countries and populations worldwide.

Trickle-down Economics

An economic theory that advocates reducing taxes on businesses and the wealthy in society as a means to stimulate business investment in the short term and benefit society at large in the long term.