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The Judge's Decision in the "Continental Vending" Court Case

Question 14

Multiple Choice

The judge's decision in the "Continental Vending" court case:


A) Made GAAP mandatory for all financial statements
B) Held that compliance with international accounting standards, rather than American accounting standards, was acceptable in the presentation of audited financial statements if the statements would predominantly be distributed to readers outside the United States
C) Held that compliance with international accounting standards, rather than American accounting standards, was acceptable in the presentation of audited financial statements if the statements would exclusively be distributed to readers outside the United States
D) Made deviation from GAAP-based presentations mandatory if the application of GAAP would be misleading

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