Some accountants maintain that accounting standards are as much a product of political action as they are of careful logic or empirical findings. This belief is an example of the concept of
A) Standard setting as a political process
B) Standards overload
C) Economic consequences
D) The role of ethics in accounting

Question

Quizplus · Accepted Answer

The statement that accounting standards are influenced by political action suggests the concept of standard setting as a political process, which implies that accounting standards are not solely determined by careful logic or empirical findings, but also by social, economic, and political factors.

Some Accountants Maintain That Accounting Standards Are as Much a Product