De Jure Harmonization Refers To

question 43

Multiple Choice

De jure harmonization refers to:

• A)the process of making accounting practice consistent across countries.
• B)the process of making accounting regulations consistent internationally.
• C)forcing accounting differences to be resolved through jury trials.
• D)eliminating the need to have different accounting methods.

---

Definitions:

Prime Cost

The sum of direct materials cost and direct labor cost, representing the direct production costs.

Cost Structure

The composition of different types of costs within a company or specific project, often categorized into fixed and variable costs.

Contribution Margin

The amount of revenue remaining after deducting variable costs, which can then be used to cover fixed costs and contribute to profit.

Product Mix

The variety of products that a company produces or sells, considering the diversity in type, size, and quality.