Which of the Following Would NOT Be a Reason to Obtain

Multiple Choice

Which of the following would NOT be a reason to obtain a greater understanding of accounting practices in other nations?

A) Financial results are disclosed in different currencies.
B) One needs to be aware of differing disclosure requirements from nation to nation, as this impacts the preparation of financial statements.
C) Income-smoothing may have affected a foreign subsidiary's results; such smoothing practices are not permitted in North America.
D) Departures from the historical cost principle may be possible in other nations.