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Homework Ch. 11 - Results Reporter Out of 15 questions you...

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Results Reporter Out of 15 questions, you answered 15 correctly with a final grade of 100% 15 correct (100%) 0 incorrect (0%) 0 unanswered (0%) Your Results: The correct answer for each question is indicated by a . 1 CORRECT Opponents of accounting harmonization argue that A) One set of universally accepted accounting standards would not reduce the cost of preparing consolidated statements B) Harmonization is not truly valuable because no significant benefits would be achieved C) Accounting staff could transfer more easily to other countries of multinational companies D) Comparability of financial statements is necessary for the globalization of capital markets E) Cost of capital of multinational companies would increase 2 CORRECT According to Nobes, all of the following are reasons for international accounting diversity, except for: A) A nation's culture B) Differences in the purpose for financial reporting C) The nature of a country's financing system D) The institutional structures of a country E) Taxation
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3 CORRECT According to Nobes, a country's culture determines the nature of a country's financing system. What type of financing system leads to what class of accounting? A) A weak equity-outsider financing leads to an accounting system for outside shareholders.
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