The most relevant factor in determining the purpose of financial reporting is:

Multiple Choice

• The nature of the country’s financing system

• The ability to control inflation

• A weak equity financing system which is less conservative, extensive disclosures and loose tax laws.

• A strong equity financing system which is more conservative, minimal disclosures, and tight tax laws.

• The country’s current economic conditions

Answer rating: 100% (QA)

AnswerThe nature of the countrys financing ... View the full answer