Inflation accounting regulations would tend to be more detailed and comprehensive in which of the following systems?

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Quizplus · Accepted Answer

The civil law system typically has more detailed and specific regulations regarding accounting practices, including those related to inflation accounting. This is because the civil law system is based on written codes that provide detailed rules and guidance, whereas the common law system relies more on judicial decisions and precedent. Countries that follow the British tradition may have some regulations related to inflation accounting, but they may not be as comprehensive as those found in civil law countries. Cultural factors may also influence accounting practices, but regulations are typically established by legal systems rather than cultural norms.

Inflation Accounting Regulations Would Tend to Be More Detailed and Comprehensive