Why should there be universal accounting procedures?
A) To allow for the international promotion of CPA
B) To allow stakeholders to interpret and compare financial statements accurately
C) To ensure conformity to U.S. standards of ethics
D) To ensure all multinational firms report information accurately
E) To prevent fraudulent business operations

Question

Quizplus · Accepted Answer

Universal accounting procedures ensure that financial statements of different companies can be interpreted and compared accurately by stakeholders. This is important for making informed investment decisions and analyzing the financial health of companies across different countries and regions.

Why Should There Be Universal Accounting Procedures