What Body Currently Develops Accounting Standards in Germany

question 5

Multiple Choice

What body currently develops accounting standards in Germany?

• A)German Accounting Standards Committee
• B)German Ministry of Justice
• C)Bundestag
• D)Chamber of Auditors

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Definitions:

Inseparability

A characteristic of services that highlights the simultaneous production and consumption, making separation of service from the provider impossible.

Inventory

The total amount of goods and materials held in stock by a business, warehouse, or other entity.

Sharing Economy

An economic system in which assets or services are shared between private individuals, either free or for a fee, typically by means of the Internet.

Peer-To-Peer

A communications model that is decentralized, where every participant has equal capabilities, and both parties can start a communication session.