Which of the Following Is Not a Characteristic of the Anglo-American

question 24

Multiple Choice

Which of the following is not a characteristic of the Anglo-American model of financial accounting and its regulation?

• A) It has been strongly influenced by professional accounting bodies rather than government
• B) It emphasises the importance of capital markets as the main source of equity and debt
• C) Regulation tends to be totally rule-based rather than requiring professional judgement
• D) It emphasises consideration of substance over legal form

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Definitions:

Labor

The human effort, both physical and mental, used to produce goods and services.

Equilibrium Wage

The wage rate at which the quantity of labor employers are willing to hire equals the quantity workers are willing to supply, with no excess demand or supply.

Quantity Of Labor

The total number of labor hours provided by workers for the production of goods or services.

Labor

Human effort, both physical and mental, used in the production of goods and services.