What Reason Is Given for the Stagnation of Accounting Development

question 80

Multiple Choice

What reason is given for the stagnation of accounting development during the "Cultural Revolution" in China (1966-1976) ?

• A)Over-simplification of accounting was pursued to make it accessible to a broad populace.
• B)There was very little business being transacted in China during the Cultural Revolution.
• C)Businesses in China were converting to international accounting standards during this period of time so they stopped developing new standards.
• D)Auditors took over the development of accounting practice.

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Definitions:

Exerting Influence

The act of using one’s power, personality, or strategies to affect or sway others' actions, decisions, or opinions.

Substantial Experience

Having a significant amount of knowledge, expertise, or practice in a particular area or field.

Power Equalization

Efforts or processes to balance power among parties, typically in negotiations or conflicts, to ensure fairness.

Employed

The state of being engaged in work or having a job.