Until Recently,which of the Following Accounting Practices Has Been True

question 3

Multiple Choice

Until recently,which of the following accounting practices has been true?

• A)Japanese law generally allowed revaluation.
• B)Dutch standards prohibited revaluation and prescribes historic cost.
• C)Capitalization of financial leases was required practice in France.
• D)German accountants have treated depreciation as a liability.

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Definitions:

Standard Rules

Established guidelines or procedures that are followed within an organization to maintain consistency and order.

Safety Needs

Fundamental requirements for personal security, protection, and stability, as identified in Maslow's hierarchy of needs.

Stability

The condition in which a system, such as an economy or ecological system, remains consistent and balanced over time.

Daily Life

The routine activities and experiences that constitute a person's everyday existence.