The Main Advantage of the FASB Codification Is

question 26

Multiple Choice

The main advantage of the FASB Codification is:

• A) convergence of national accounting standards and IFRS.
• B) a shift from national accounting to international accounting.
• C) a move away from a standards-based model of organization to one based on topical area.
• D) all of the above.

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Definitions:

Mechanistic Organizations

Organizations characterized by a rigid hierarchy, fixed duties, and a focus on rules, giving them a machine-like efficiency.

IT

Information Technology, the use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Uniformly Positive

A consistent and universally favorable attitude or assessment across various situations or subjects.

Information Technology's Impact

Refers to the significant influence that technological advancements in information processing, storage, and dissemination have on society, businesses, and individual behavior.