Some countries' philosophy of financial reporting differs from U.S.GAAP because their financial reports are required to
A)be verifiable.
B)conform to tax and/or commercial law.
C)be reported and measured in a similar manner across companies.
D)use the same accounting methods for similar events period to perioD.

Question

Quizplus · Accepted Answer

Some countries' financial reporting requirements may prioritize conformity with tax and/or commercial law over adherence to accounting principles like U.S. GAAP. This can result in differences in the methods and rules used for financial reporting.

Some Countries' Philosophy of Financial Reporting Differs from U