Which of the following was a source of support for international harmonization of accounting standards and financial reporting in the mid-1990s?
A) Australian Securities Exchange (ASX)
B) International Accounting Standards Committee (IASC)
C) Neither A nor B is correct
D) Both A and B are correct

Question

Quizplus · Accepted Answer

Both the Australian Securities Exchange (ASX) and the International Accounting Standards Committee (IASC) were sources of support for international harmonization of accounting standards and financial reporting in the mid-1990s. The ASX adopted the International Accounting Standards (IAS) in 1994 and the IASC was established to promote the development and adoption of global accounting standards.

Which of the Following Was a Source of Support for International