Why Has Corporate Financial Reporting in China Not Resembled Reporting

question 45

Multiple Choice

Why has corporate financial reporting in China not resembled reporting in Anglo-Saxon countries?

• A) There was a lack of distinction between business functions and social service functions in Chinese reporting entities.
• B) China has only recently become involved in international trade.
• C) The concept of accounting was only introduced to China recently and therefore it has not had time to develop properly.
• D) The 1960's Cultural Revolution eliminated the requirements that Chinese corporations provide information on business operations.

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Definitions:

Difference Threshold

The minimum difference in stimulation that a person can detect 50% of the time, also known as the just-noticeable difference (JND).

Semicircular Canals

Three fluid-filled circular tubes in the inner ear containing the sensory receptors that detect head motion caused when an individual tilts or moves the head and/or the body.

Inner Ear

The innermost part of the ear, containing the cochlea and vestibular system, crucial for hearing and balance.

Trichromatic Theory

A theory that explains how the human eye sees color by the presence of three types of cones sensitive to different wavelengths of light: short (blue), medium (green), and long (red).