Consider the U$.$S$.$ Identify the factor that has had the strongest influence on the development of accounting.

Multiple Choice

The importance of the equity market $($strong equity$-$outside shareholder financing system$)$

The separation of taxation and financial reporting

The fact that accounting standards $($GAAP$)$ are developed by a nongovernmental entity $($FASB$)$ Anglo$-$Saxon model of accounting oriented toward meeting the decision needs of large numbers of investors and creditors.

All of the choices are correct.