Which of the Following Statements Is True About the Comparability

question 31

Multiple Choice

Which of the following statements is true about the comparability of financial statement of the United States and the United Kingdom?

• A) The result of Latin American colonialism is the large number of countries with the United Kingdom's influence on their accounting practices.
• B) The financial statements of companies in the United States and the United Kingdom are comparable as they are prepared after adjusting inflation, which is a critical factor affecting accounting practice.
• C) The basic principle followed by both countries in preparing financial statements is government economics and government tax and legal framework.
• D) The accounting practices of both the countries are oriented toward the decision needs of a large number of investors and creditors.

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Definitions:

Partitioning

The process of dividing a computer's hard drive into multiple logical storage units or partitions, each treated as a separate drive.

Drive Letter

An alphabetic character assigned to a particular storage volume or device in a computer's file system.

SATA

Stands for Serial ATA, an interface used for connecting storage devices like hard drives and solid-state drives to a computer motherboard, offering faster data transfer speeds compared to older technologies.

ESDI

Enhanced Small Device Interface is an obsolete computer interface standard used for connecting and controlling hard disk drives, superseded by later technologies like SCSI and SATA.