Which of the Following Statement Was Not Identified as a Benefit

question 18

Multiple Choice

Which of the following statement was not identified as a benefit of international harmonisation?

• A)It was likely to increase the comparability of financial reports prepared in different countries.
• B)It was likely to improve the quality of financial reporting in Europe to best international practice.
• C)It was likely to reduce the reporting costs for Europe's not-for-profit entities and local governments.
• D)It was likely to allow more meaningful comparisons of the financial performance and financial position of foreign public sector reporting entities.

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Definitions:

Charitable Trust

A legal arrangement in which assets are held and managed by one party for charitable purposes, providing benefit to the public or a segment of the public.

Museum

An institution dedicated to collecting, preserving, exhibiting, and interpreting artifacts and works of significant historical, cultural, or artistic value.

Express Trust

A trust explicitly created by a settlor, typically in a written document, specifying how trust assets are to be managed and distributed.

Voluntary Action

An act done by choice or free will, without external compulsion.