Why has corporate financial reporting in China not resembled reporting in Anglo-Saxon countries?
A. There was a lack of distinction between business functions and social service functions in Chinese reporting entities.
B. China has only recently become involved in international trade.
C. The concept of accounting was only introduced to China recently and therefore it has not had time to develop properly.
D. The 1960’s Cultural Revolution eliminated the requirements that Chinese corporations provide information on business operations.
Answer:A
Why has corporate financial reporting in China not resembled reporting in Anglo-Saxon countries?
A. There was a lack of distinction between business functions and social service functions in Chinese reporting entities. B. China has only recently become involved in international trade. C. The concept of accounting was only introduced to China recently and therefore it has not had time to develop properly. D. The 1960’s Cultural Revolution eliminated the requirements that Chinese corporations provide information on business operations.