PQ Campus

Culizes $-$ RCBBES Inte

dterm

$2$:$04$:$59$ remainir

Question $16(2\mathrm{.}5$ points$)$

$$ Saved

The accounting standards in code law countries tend to be:

a$)$ very detailed.

b$)$ formulated by organizations such as the FASB.

c$)$ stated generally without much guidance on accounting procedures.

d$)$ very conservative.

Question $17(2\mathrm{.}5$ points$)$

$$ Saved

Historical cost is the primary basis for asset valuation under U$.$S$.$ GAAP. Why is historical cost NOT as important in the accounting systems of Latin America as in the U$.$S$.?$