Which of the Following Is an Obstacle That Is Not

question 12

Multiple Choice

Which of the following is an obstacle that is not unique to international harmonisation of accounting standards?

• A) Standards may be opposed due to their negative economic consequences on individuals or groups
• B) Standards may lack relevance to the recipients that they are imposed upon
• C) Differences of opinion as to who should have the authority and responsibility of setting accounting standards
• D) All of the given options are correct.

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Definitions:

Excess Demand

A market condition in which the quantity demanded of a good or service exceeds the quantity supplied at a given price, leading to upward pressure on price.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price level, at a specific time.

Excess Demand

Occurs when the quantity demanded of a good or service at the current price exceeds the quantity supplied, often leading to upward pressure on prices.

Market Equilibrium

A state where the supply of goods matches demand, resulting in stable prices.