Consider the development factors in the following five countries: France, India, Japan, the United States, and the
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Based on the information provided in this chapter, prepare a profile of accounting in each of thecountries.
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Development Factor Main source of finance Legal system Taxation (link to accounting) Political and economic ties Inflation Level of economic development Educational level United Kingdom India United States France Banks; government Stock market Banks Code law Linked Japan Government Stock market Common law Separate Stock market Common law Separate Common law Separate U.K., U.S., Code law Linked Canada Mexico Low China U.S., China Europe Low U.S., Europe Low Low Low High High High High High High High High Low Low
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France With banks and government as the main sources of finance we can expect conservative and uniform measurements With code law legal system the foc...View the full answer
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