Because of the boom in worldwide trade, there is a need for comparability and _______ in international accounting rules.

Question

Quizplus · Accepted Answer

The word "comparability" suggests that financial statements across countries need to be able to be compared to ensure consistency, and "uniformity" refers to the idea that the rules should be standardized across countries to achieve this goal. "Cash balance" and "trade control" are not relevant to the issue of international accounting rules, and "exchangeability" is not a commonly used term in this context.

Because of the Boom in Worldwide Trade, There Is a Need