Which of the following is an advantage of having a single set of accounting standards used worldwide?
A) Reduced accounting costs for multinational corporations
B) Increased power of the FASB
C) Reduced number of multinational corporations on the NYSE
D) Increased diversity of accounting methods used by multinational corporations

Question

Quizplus · Accepted Answer

Having a single set of accounting standards used worldwide would reduce accounting costs for multinational corporations because they would no longer need to comply with multiple sets of standards in different countries. This would increase efficiency and save companies money in the long run. The other choices are not advantages of having a single set of accounting standards used worldwide.

Which of the Following Is an Advantage of Having a Single