The Judge's Decision in the "Continental Vending" Court Case

question 18

Multiple Choice

The judge's decision in the "Continental Vending" court case:

• A) Made GAAP mandatory for all financial statements
• B) Held that compliance with international accounting standards, rather than American accounting standards, was acceptable in the presentation of audited financial statements if the statements would predominantly be distributed to readers outside the United States
• C) Held that compliance with international accounting standards, rather than American accounting standards, was acceptable in the presentation of audited financial statements if the statements would exclusively be distributed to readers outside the United States
• D) Made deviation from GAAP-based presentations mandatory if the application of GAAP would be misleading

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Definitions:

Correlation Coefficients

A numerical index showing how much two or more variables move in relation to each other.

Direction And Strength

In statistics and research, a term referring to the relationship between variables, indicating how one variable changes in response to another.

Carl Rogers

An influential American psychologist and one of the founding figures of humanistic psychology, known for developing client-centered therapy, emphasizing unconditional positive regard.

Abraham Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory in psychology that prioritizes human needs.