ICT Use in Emerging Nations Lags Behind Its Use in Developed

question 97

True/False

ICT use in emerging nations lags behind its use in developed nations.

---

Definitions:

GAAP

A group of customary accounting regulations and benchmarks used in financial reporting.

Inventory Cost Flow

An accounting method that determines the cost assigned to goods sold and ending inventory based on the order in which the costs were incurred.

Class Action Lawsuit

A legal action filed by one or several individuals on behalf of a larger group of people who are affected by the same issue.

General Purpose Financial Reporting

Financial statements prepared to meet the information needs of various stakeholders not directly involved in managing the entity.