Proponents of Using National Standardized Charts of Accounts Argue That

question 9

Multiple Choice

Proponents of using national standardized charts of accounts argue that:

• A) It facilitates the mobility of qualified accountants since all firms use the same basic structure.
• B) It facilitates inter-company comparability of published accounts.
• C) It reduces the cost of designing accounting software packages.
• D) All of these.

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Definitions:

Hastening

The act of accelerating a process or event, making it occur more quickly.

Life Structure

A concept in adult development theory referring to the underlying pattern or design of a person's life at a given time, including roles, relationships, and activities.

Economic Status

A measure of a person's or family's economic and social position in relation to others, based on income, education, and occupation.

Levinson's Theory

Levinson's theory, developed by psychologist Daniel Levinson, proposes that adult development occurs in a series of distinct stages, each centered around certain life tasks and transitions, spanning from early adulthood into late life.