Accounting for IGCSE & O level - Advanced Principles (Section 2 - No. 28)
Which of the following is a potential challenge in financial reporting addressed by the use of international accounting standards?
The number of assets a company possesses.
Differences in accounting practices between countries.
The total revenue generated by a company.
The specific location of a company's headquarters.
Explanation
International accounting standards are used to address the problem of differing accounting practices globally.
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