Multiple Choice
Which of the following statements is true regarding the European Union (EU) and its influence on accounting standards?
A) Adoption of the directives issued by the EU is voluntary and member states are not obligated to incorporate them into their own national laws.
B) The EU may have a better chance of achieving harmonization than the IASB.
C) The EU requires that the financial accounts issued by publicly listed companies in the EU are to be in accordance with European standards.
D) The objective of the requirements of the EU is to ensure the financial positions of companies from different member states are represented according to their national laws.
Correct Answer:
Verified
Correct Answer:
Verified
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