Some of the Costs of International Convergence of Accounting Standards

question 12

Multiple Choice

Some of the costs of international convergence of accounting standards include:

• A) Costs of educating accountants to adopt a new set of standards.
• B) Costs associated with changing data collection systems.
• C) Costs associated with changing data reporting systems.
• D) All of the given answers.
• E) None of the given answers.

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Definitions:

Average Workweek

The standard number of hours worked in a week by employees in a particular sector, industry, or economy.

Industrialized Countries

Nations characterized by significant industrial activity, a high level of development, and a strong economy.

Savings Rate

The percentage of disposable income that is set aside as savings instead of being expended on goods and services.

Economic Growth

An increase in a country's capacity to produce goods and services, compared from one period of time to another.