Which of the following is an advantage of having a single set of accounting standards used worldwide?
A)Reduce the accounting costs for multinational corporations
B)Increase the power of the FASB
C)Reduce the number of multinational corporations on the NYSE
D)Increase the diversity of accounting methods used by multinational corporations

Question

Quizplus · Accepted Answer

Having a single set of accounting standards used worldwide would reduce the need for multinational corporations to prepare different financial statements for each country they operate in, thus lowering their accounting costs.

Which of the Following Is an Advantage of Having a Single