Which of the Following Is an Accounting Problem That Only

question 52

Multiple Choice

Which of the following is an accounting problem that only international businesses face?

• A) Lack of consistency in the accounting standards
• B) Inaccurate filing of profit-and-loss statements
• C) False reporting of income to the government
• D) Lack of a dedicated accounting function within the firm

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Definitions:

Fundamental Attribution Error

The tendency for observers, when analyzing others' behavior, to underestimate the impact of the situation and overestimate the influence of personal characteristics.

Quizmaster Study

An experimental study that illustrates the attribution error by having participants rate quizmasters as more knowledgeable than contestants, ignoring the situational advantage of the quizmasters.

Randomly Chosen

Selected without a specific pattern, order, or reason, ensuring that each member of a set has an equal chance of being included.

Knowledgeable

Having or showing understanding, awareness, or familiarity with facts, information, skills, or subjects through experience or education.