Question: EXERCISE 21 Some financial statement users maintain that despite its intrinsic intellectual appeal, uniformity in accounting seems unworkable in a complex modern society that relies,

EXERCISE 2–1 Some financial statement users maintain that despite its intrinsic intellectual appeal, uniformity in accounting seems unworkable in a complex modern society that relies, at least in part, on economic market forces.

Required:

a. Discuss at least three disadvantages of national or international accounting uniformity.

b. Explain whether uniformity in accounting necessarily implies comparability.

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