part 1

part 2

part 3

In common-law countries (such as the U.S., the U.K., and Canada), greater emphasis is placed on public information than in code-law countries (such as Germany, France, and Japan). True or False True h False For countries whose tax standards are closely tied to financial reporting standards (Central Europe and Japan), accounting earnings tend to be lower so companies can minimize tax payments. True or False True False In countries where debt financing is more common (Germany and Japan) compared to equity financing, there is greater emphasis on reporting the ability of the company to earn profits for its investors rather than the ability to repay debt. True or False True False