Accounting methods for noncurrent assets, such as machinery, are standardized across the world to facilitate trade.

Name: Accounting methods for noncurrent assets, such as machinery, are standardized across the world to facilitate trade.
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Different countries may follow different accounting standards, such as International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP), leading to variations in how noncurrent assets like machinery are accounted for.

Accounting Methods for Noncurrent Assets, Such as Machinery, Are Standardized