Accounting standard-setting has been characterized as:
A) A political process.
B) Using the scientific method.
C) Pure deductive reasoning.
D) Pure inductive reasoning.

Question

Quizplus · Accepted Answer

Accounting standard-setting involves a complex set of stakeholders with varying interests and goals, including regulators, investors, and companies. As a result, the process is often influenced by political pressures and negotiations to reach a consensus that satisfies the most stakeholders.

Accounting Standard-Setting Has Been Characterized As