What would be an advantage of having all countries adopt and follow the same accounting standards?
A) Consistency.
B) Comparability.
C) Lower preparation costs.
D) Comparability and lower preparation costs

Question

Quizplus · Accepted Answer

If all countries adopt and follow the same accounting standards, it would improve comparability of financial statements across different countries, making it easier for investors to make decisions. Additionally, it could potentially lower the preparation costs for multinational companies that currently have to prepare separate financial statements for each country's accounting standards.

What Would Be an Advantage of Having All Countries Adopt