The Organization That Attempts to Create More Harmony Among the Accounting

question 260

Multiple Choice

The organization that attempts to create more harmony among the accounting practices of different countries by identifying preferred practices and encouraging their worldwide acceptance is the:

• A)AICPA
• B)FASB
• C)CAP
• D)SEC
• E)IASB

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Definitions:

Slave Trading

The act of buying and selling human beings for the purpose of forced and unpaid labor, a practice notably prevalent in the transatlantic slave trade until the 19th century.

Upper South

A term referring to the northern part of the Southern United States, characterized by a mix of agriculture and industrialization, especially prior to and during the Civil War.

Industrial Development

The process of industrialization whereby an economy is transformed from primarily agricultural to one based on the manufacturing of goods. Individual manual labor is often replaced by mechanized mass production.

Fugitive Slaves

Escaped slaves from Southern plantations seeking freedom in the North or Canada especially during the 19th century before the abolition of slavery.