Which of the Following Terms Is Used to Refer to Harmonization

question 30

Multiple Choice

Which of the following terms is used to refer to harmonization among accounting practice of different enterprises?

• A)Formal harmonization
• B)Material harmonization
• C)De jure harmonization.
• D)Convergence

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Definitions:

Capacity

The maximum level of output that a company can sustain to produce in a given period.

Allocation Base

A criterion or measure used for distributing overhead costs among various cost objects, such as departments or products.

Fixed

Expenses that do not change in total over a short period, regardless of the level of production or sales activity, such as rent, salaries, or insurance.

Classified

Pertains to information, documents, or materials that have been deemed confidential and are restricted to certain levels of access.