Question

Accounting Standards should be:
(A) Simple
(B) Understandable
(C) Simple and Understandable (D) According to the na
enterprise​

Answer 1

Answer:

C

Explanation:

Simple and Understandable.

hope it helps....

Answer 2

Accounting Standards should be simple and understandable.

• An accounting standard is a collection of procedures and guidelines used to standardize bookkeeping and other accounting operations over time and across different businesses.
• All aspects of an entity's financial picture, including its assets, liabilities, income, outlays, and shareholders' equity, are subject to accounting standards.
• Accounting standards are relied upon by banks, investors, and regulatory bodies to guarantee that data regarding a certain organization is correct and up-to-date.
• Their fundamental goal is to guarantee the financial statements' dependability, consistency, transparency, and comparability.
• They accomplish this by harmonizing a country's or economy's accounting standards and practices.
• All facets of an entity's financial picture, including its assets, liabilities, income, outlays, and shareholders' equity, are covered by accounting rules.

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