Which of the following accurately reflects Swedish accounting?

Question

Quizplus · Accepted Answer

There is a strong tradition of involvement of the accounting profession in the standard setting process in Sweden, with the Swedish Accounting Standards Board (Bokföringsnämnden) playing a key role in developing and publishing accounting standards for both public and private sector entities.

Option B is incorrect because Sweden has a well-established legal framework and accounting standards that must be followed by companies operating in the country.

Option C is incorrect because while Sweden does have a high tax rate, there are tax breaks available for companies engaging in research and development, innovation, and environmentally friendly activities.

Option D is incorrect because taxes and legal requirements do have an influence on accounting practices in Sweden.

Which of the Following Accurately Reflects Swedish Accounting