EU countries like France have had traditionally a greater emphasis on flexibility and presentation of financial statements at fair value than have Anglo countries like Great Britain and the USA.

Question

Quizplus · Accepted Answer

Traditionally, Anglo countries like Great Britain and the USA have placed a greater emphasis on flexibility and the presentation of financial statements at fair value, whereas EU countries like France have historically focused more on the prudence principle and historical cost valuation.

EU Countries Like France Have Had Traditionally a Greater Emphasis