What Was the 2002 Finding by the Six Largest Public

question 10

Multiple Choice

What was the 2002 finding by the six largest public accounting firms regarding International Financial Reporting Standards?

• A)Of the countries surveyed, almost all intended to make their GAAP converge with IFRS.
• B)Very few of the countries studied planned to move their national accounting standards toward convergence with IFRS.
• C)There were almost as many convergence strategies as there were countries in the study.
• D)The countries that planned to make their GAAP converge with IFRS were predominantly western European nations.

---

Definitions:

Optimal Allocation

The most efficient distribution of resources and efforts among various possible tasks or uses to maximize desired outcomes or objectives.

Social Good

refers to an action or a policy that benefits society at large, often with an emphasis on public resources and welfare.

Marginal Benefit (MB) Curve

A graphical representation that shows the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Pollution Abatement

Actions or measures taken to reduce, control, or eliminate pollution and its negative effects on the environment.