Which of the following statements is true about the comparability of financial statement of the United States and the United Kingdom?

Question

Quizplus · Accepted Answer

The statement that best reflects the comparability of financial statements of the United States and the United Kingdom is that the accounting practices of both countries are oriented toward the decision needs of a large number of investors and creditors. This is because both countries have a well-developed capital market that influences their accounting standards. While the other statements may have some relevance to the accounting practices of the two countries, they do not accurately reflect the comparability of their financial statements.

Which of the Following Statements Is True About the Comparability