Matching 43. Listed below are seven reasons why accounting practices differ across countries followed by a list of descriptions. Match each description with the best reason placing the...

Matching

43. Listed below are seven reasons why accounting practices differ across countries followed by a list of descriptions. Match each description with the best reason placing the letter designating the reason in the space provided.

Reason:

a. Legal system

b. Tax laws

c. Sources of financing

d. Inflation

e. Culture

f. Political and economic ties

g. Economic development

Description:

_____ The extent of public disclosure depends on the secretiveness of society.

_____ In some countries, asset values increase rapidly because of the general price level changes.

_____ Countries share business activities and have political connections.

_____ Some countries rely more heavily on debt capital than on equity capital to fund operations.

_____ Common law countries rely more heavily on public information.

_____ More developed economies have more complex business transactions.

_____ Alignment between financial reporting and tax reporting rules.

44. Below are seven reasons for differences in accounting practices among countries. For each reason, at least two options are provided. For each reason, select the option that best describes the United States.

45. Below are seven reasons for differences in accounting practices among countries. For each reason, at least two options are provided. For each reason, select the option that best describes Germany.