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Which of the following would result if therewas not a set of generally accepted and universally practiced accounting standards? It would be almost impossible to
Which of the following would result if therewas not a set of generally accepted and universally practiced accounting standards?
It would be almost impossible to prepare statements that could be compared.
Each company would have to develop its own standards.
Readers of financial statements would have to familiarize themselves with every company's peculiar accounting and reporting practices.
All of these answer choices are correct.
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