The Benefits of a Single Set of Accounting Standards Used

question 21

Multiple Choice

The benefits of a single set of accounting standards used around the world would include all of the following except

• A)they would eventually save companies considerable money in accounting fees.
• B)they would prevent competitors from acquiring each other.
• C)they would allow easier comparisons by analysts and investors.
• D)they would facilitate access to foreign capital markets.

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Definitions:

Goods And Services

Physical items that satisfy human wants and provide benefits, and intangible activities or benefits that are exchanged between parties.

Willingness And Ability

The readiness and capacity of an individual or group to engage in a particular activity or transaction.

Consumers

Consumers are individuals or entities that purchase goods and services for personal use and not for manufacture or resale.

Distribution

The process of making a product or service available for the consumer or business user that needs it, which can include warehousing, transportation, and logistics.