The People's Republic of China made economic reforms in the 1980s to encourage international trade. What impact have these reforms made on accounting?

Question

Quizplus · Accepted Answer

The economic reforms made in the 1980s in China to encourage international trade had a significant impact on accounting. These reforms led to an increase in demand for accounting information from investors, an increase in the supply of publicly available accounting information from Chinese companies, and a change in the nature of auditing in the PRC. As a result, all of the above choices are true.

The People's Republic of China Made Economic Reforms in the 1980s