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Exercise E-2 Classify differences in accounting practices across countries (LOE-1) For each of the countries listed below, select the seven optionis that best describe that country. For instance, the United States can be described as common-law, different tax and financial reporting, more equity financing, low inflation, transparent, British ties, and a developed economy. Options Australia Austria Reason 1. Legal system 2. Tax laws 3. Sources of financing 4. Inflation Culture 5. Political and economic ties 6. 7. Economic development