Which of the Following Is LEAST Likely to Trigger the Standardization

question 14

Multiple Choice

Which of the following is LEAST likely to trigger the standardization of consumer preferences?

• A)intrinsic functions of money
• B)global access to common media
• C)increasing nationalism
• D)improved communications technologies

---

Definitions:

Entity Concept

An accounting principle that treats a company as a separate legal and accounting entity distinct from its owners or other companies.

Full Consolidation

An accounting method where the parent company integrates the financial statements of all its subsidiaries, regardless of the percentage of ownership, into one consolidated set of financial statements.

Ownership Proportion

The percentage of shares or interest held in an entity, determining the extent of control or influence an owner has over that entity.

AASB 3

The Australian Accounting Standards Board standard that deals with the accounting treatment for business combinations.