Which of following is/are the potential benefits of a single set of international accounting standards? 4. Ensure adequate comparability. B. Avoid additional financial statements preparation costs companies incur. C. Users of financial statements will not be forced to understand at least two sets of standards.
Which of following is/are the potential benefits of a single set of international accounting standards? 4. Ensure adequate comparability. B. Avoid additional financial statements preparation costs companies incur. C. Users of financial statements will not be forced to understand at least two sets of standards.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter4: Professional Liability, Auditor Judgment Frameworks, And Professional Responsibilities
Section: Chapter Questions
Problem 61RSCQ
Related questions
Question
![Question 14
Which of following is/are the potential
benefits of a single set of
accounting standards?
international
A.
Ensure adequate comparability.
B.
Avoid additional financial statements
preparation costs companies incur.
C.
Users of financial statements will not
be forced to understand at least two
sets of standards.
D.
All of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe14847a5-1eac-4b20-a3ba-bf58107b4c65%2F33e6275a-645e-45b6-9296-a804db39ff05%2Fywrviha_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 14
Which of following is/are the potential
benefits of a single set of
accounting standards?
international
A.
Ensure adequate comparability.
B.
Avoid additional financial statements
preparation costs companies incur.
C.
Users of financial statements will not
be forced to understand at least two
sets of standards.
D.
All of the above
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Auditing: A Risk Based-Approach to Conducting a Q…](https://www.bartleby.com/isbn_cover_images/9781305080577/9781305080577_smallCoverImage.gif)
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
![Auditing: A Risk Based-Approach (MindTap Course L…](https://www.bartleby.com/isbn_cover_images/9781337619455/9781337619455_smallCoverImage.gif)
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
![Auditing: A Risk Based-Approach to Conducting a Q…](https://www.bartleby.com/isbn_cover_images/9781305080577/9781305080577_smallCoverImage.gif)
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
![Auditing: A Risk Based-Approach (MindTap Course L…](https://www.bartleby.com/isbn_cover_images/9781337619455/9781337619455_smallCoverImage.gif)
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning