Countries are MOST likely to have similar accounting policies when:

Question

Quizplus · Accepted Answer

Countries with greater political and economic ties are more likely to have similar accounting policies because they are likely to share similar business practices and financial regulations. For example, countries that are members of the European Union have adopted International Financial Reporting Standards (IFRS), which has led to greater uniformity in accounting policies across member countries. Shared language, geographic proximity, and similar economic size may have some influence, but they are not as significant as political and economic ties.

Countries Are MOST Likely to Have Similar Accounting Policies When