Which of the following factors led to significant changes in accounting practices?
A)The Great Depression of 1929
B)The election of Franklin D. Roosevelt to the presidency in 1932
C)The enactment of the New Deal legislation
D)All of the above

Question

Quizplus · Accepted Answer

The Great Depression of 1929 led to significant economic and financial reforms that impacted accounting practices. The election of Franklin D. Roosevelt and the enactment of the New Deal legislation in response to the Great Depression also played a major role in shaping accounting practices, as the government sought to regulate and reform the financial industry. Accounting standards and practices had to adjust accordingly to comply with these new regulations and requirements.

Which of the Following Factors Led to Significant Changes in Accounting