The organization that attempts to create more harmony among the accounting practices of different countries by identifying preferred practices and encouraging their worldwide acceptance is the:
A)AICPA
B)FASB
C)CAP
D)SEC
E)IASB

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) attempts to create more harmony among the accounting practices of different countries by identifying preferred practices and encouraging their worldwide acceptance through the development and promotion of International Financial Reporting Standards (IFRS). AICPA, FASB, CAP, and SEC are all organizations within the United States and do not focus on international accounting practices.

The Organization That Attempts to Create More Harmony Among the Accounting