Which of the Following Was Identified as a Benefit When

question 13

Multiple Choice

Which of the following was identified as a benefit when Australia accepted the international harmonisation of its accounting standards?

• A)Reporting costs would be lowered.
• B)International comparability of financial statements would increase.
• C)The cost of capital would decrease.
• D)All of the above.

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Definitions:

Merchant

An individual or business entity involved in the trade of goods or services, especially one dealing with the sale of goods.

Uniform Commercial Code

A comprehensive set of laws and regulations that govern commercial transactions in the United States, intended to harmonize laws across states.

Ordinary Buyers

Refers to typical consumers in the market who purchase goods or services for personal use.

Voidable Title

A legal title to property that may be annulled or invalidated due to certain circumstances, such as fraud or misrepresentation.