The Main Goal of Both U

question 174

Multiple Choice

The main goal of both U.S.GAAP and IFRS is to:

• A)ensure that companies produce useful information for capital providers.
• B)reduce the number of required financial statements.
• C)prevent all fraud and ensure the amounts reported are precise to the penny.
• D)ensure that companies become more profitable.

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Definitions:

Snorted

To forcibly breathe in through the nose, often to express disapproval or to ingest substances.

Recreational Drug

Substances used primarily for leisure or enjoyment rather than for medical purposes, often leading to altered states of consciousness.

North America

A continent located in the Earth's northern hemisphere and almost entirely within the western hemisphere, comprising countries like the United States, Canada, and Mexico.

Widely Used

Referring to practices, tools, or methods that are commonly adopted across various fields or societies.