Question: How does harmonization differ from convergence? Multiple Choice The ultimate goal of both harmonization and convergence is to achieve international comparability in financial reporting. Harmonization

How does harmonization differ from convergence?
Multiple Choice
The ultimate goal of both harmonization and convergence is to achieve international comparability in financial reporting.
Harmonization refers to the reduction of alternative accounting practices in different countries.
Convergence refers to the process of developing a set of high quality financial reporting standards for use internationally.
All answers are correct.

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