Question

Direct regulation of business has the potential to yield economic benefits to society when

Answer 1

Accounting standards ensures the consistency and comparability of financial statement". ... Financial statements of one accounting period must be comparable to another in order for the users to derive meaningful conclusions about the trends in an entity's financial performance and position over time.

Answer 2

"It seems this is what you are looking for:"

Direct regulation of business has the potential to yield economic benefits to society when:

A) barriers to entry are absent.

B) there are no good substitutes for a product.

C) many firms serve a given market.

D) smaller firms are most efficient.

Answer:

B) there are no good substitutes for a product.

Direct regulation of business has the potential to yield economic benefits to society when there are no good substitutes for a product.

Explanation:

There are no acceptable substitutes for a product. In economics and consumer theory, a substitute, or substitutable good, is a product or service that consumers perceive to be essentially the same or similar-enough to another product. Simply put, a substitute is a product that can be used instead of another. Substitutes play an important role in the marketplace and are viewed positively by consumers. They give consumers more options, allowing them to better meet their needs. Bills of materials frequently include alternate parts that can be used in place of the standard part if it is damaged or destroyed.