Which of the following accurately reflects Japanese accounting?

Question

Quizplus · Accepted Answer

Japanese accounting standards are set by a government body called the Accounting Standards Board of Japan. This organization sets accounting standards for companies to follow. Therefore, choice B is the correct option.

Option A is incorrect because Japanese accounting regulations are quite strict and not flexible. Option C is incorrect because Japanese companies generally follow a high disclosure policy rather than secrecy. Option D is also incorrect because secret reserves are not a generally accepted accounting practice in Japan.

Which of the Following Accurately Reflects Japanese Accounting