Why Did the European Commission Stop Issuing Directives Related to Accounting

question 14

Multiple Choice

Why did the European Commission stop issuing directives related to accounting in 1990?

• A) The EU was leaving the formulation of accounting standards up to the IASC.
• B) The European Commission had finished the task of formulating accounting standards for the European Union.
• C) Accounting harmonization had been completed.
• D) The Commission found that its directives were unenforceable.

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Definitions:

Phallic Stage

A phase in Freudian psychosexual development, occurring from about three to six years of age, where the focus of libido (sexual energy) is on the genital area.

Opposite Sex Parent

In Freudian psychoanalytic theory, the parent of the opposite sex is considered significant in a child's psychosexual development and the formation of the Oedipus and Electra complexes.

Same-Sex Parent

A parent who is in a relationship or marriage with someone of the same gender and is raising children.

Optimistic Thinker

An individual who tends to maintain a positive outlook on life, expecting the best possible outcome in various situations.