International harmonization is also known as ________.
A) convergence
B) harmony
C) independence
D) critical thinking

Question

Quizplus · Accepted Answer

International harmonization refers to the process of aligning accounting standards and procedures across different countries in order to simplify and standardize financial reporting. This is often referred to as "convergence" because the goal is to bring different systems into agreement or harmony with each other. Choice B) harmony is similar, but not as commonly used in this context. Choice C) independence is not relevant to the concept of international harmonization in accounting. Choice D) critical thinking is also not applicable to this topic.

International Harmonization Is Also Known as ________