Certain U.S. accounting standards have been, and will be, amended to aid in the
ID: 2464032 • Letter: C
Question
Certain U.S. accounting standards have been, and will be, amended to aid in the international convergence process. The process of changing these standards usually involves
a.
a short deliberation followed by a vote of the U.S. Congress
b.
acceptance of the change by the Internal Revenue Service
c.
rejecting all existing standards and developing an entirely new concept
d.
selecting the best standard between existing U.S. and international standards
a.
a short deliberation followed by a vote of the U.S. Congress
b.
acceptance of the change by the Internal Revenue Service
c.
rejecting all existing standards and developing an entirely new concept
d.
selecting the best standard between existing U.S. and international standards
Explanation / Answer
selecting the best standard between existing U.S. and international standards