The Norwalk Agreement Refers To

question 21

Multiple Choice

The Norwalk agreement refers to:

• A) The commitment of the U.S. and European Union to adopt one set of accounting standards
• B) The commitment of FASB and the International Accounting Standards Board (IASB) to adopt one set of accounting standards
• C) The commitment of FASB and IASB to the convergence of U.S. GAAP and international accounting standards
• D) The agreement that ended World War II

---

Definitions:

Business Ethics And Conduct

Refers to the moral principles and standards that guide behavior in the world of business.

Federal Sentencing Guidelines

Rules that set out a uniform policy for sentencing individuals and organizations convicted of felonies and serious misdemeanors in the United States.

Individual Values

Personal or intrinsic beliefs and principles that guide an individual's behavior and decision-making processes.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or virtual territory, subject to the same political authority and dominant cultural expectations.