Which of the following statements about the accounting standards used in other countries is correct?Multiple ChoiceOU.S. GAAP is used worldwide.OOIFRS are used by all countries.SavedMore and more countries are using IFRS.There are no plans to converge U.S. GAAP with IFRS.

Accounting standards, also known as Generally Accepted Accounting Principles (GAAP) or International…

Which of the following statements about the accounting standards used in other countries is correct? Multiple Choice U.S. GAAP is used worldwide. IFRS are used by all countries. More and more countries are using IFRS. There are no plans to converge U.S. GAAP with IFRS.

Which of the following statements about the accounting standards used in other countries is correct? Multiple Choice U.S. GAAP is used worldwide. IFRS are used by all countries. More and more countries are using IFRS. There are no plans to converge U.S. GAAP with IFRS.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA1: International Financial Reporting Standards

Section: Chapter Questions

Problem 2MCQ

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Which of the following statements about the accounting standards used in other countries is correct?
Multiple Choice
OU.S. GAAP is used worldwide.
O
O
IFRS are used by all countries.
Saved
More and more countries are using IFRS.
There are no plans to converge U.S. GAAP with IFRS.

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