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

Question

Quizplus · Accepted Answer

Adopting and following the same accounting standards would result in comparability of financial statements across different countries. This would facilitate easier analysis and decision-making by investors, creditors and other stakeholders. It would also lead to lower preparation costs as companies would not need to prepare separate financial statements for different countries, which would be particularly beneficial for multinational companies.

What Would Be an Advantage of Having All Countries Adopt