Explain How Harmonization of Standards Might Increase Productive Efficiency

question 37

Essay

Explain how harmonization of standards might increase productive efficiency.

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Definitions:

Retained Earnings

The portion of a company's profits that is kept or retained within the business instead of being paid out to shareholders as dividends.

Stockholders' Equity

The stake in a company's assets left over after all debts have been cleared, frequently called shareholders' equity.

Revenues

Income that a company receives from its normal business activities, usually from the sale of goods and services to customers.

Gains

Result primarily from the disposal of assets for more than their cost minus the amount of cost depreciated in the past.