Some of the costs of international convergence of accounting standards include:
A) Costs of educating accountants to adopt a new set of standards.
B) Costs associated with changing data collection systems.
C) Costs associated with changing data reporting systems.
D) All of the given answers.
E) None of the given answers.

Question

Quizplus · Accepted Answer

The costs of international convergence of accounting standards include all the given options. Educating accountants is necessary to ensure that they are aware of the new standards and how to implement them. Changing data collection and reporting systems is necessary to ensure that financial data is reported in accordance with the new standards. Therefore, all the given answers are correct.

Some of the Costs of International Convergence of Accounting Standards