Question

The ongoing globalization of business activities has given rise to the need for consistent and comparable financial statements for companies in different countries. The FASB and IASB recognize a need for:_______.

Answer 1

Answer:

internationally comparable financial information.

Explanation:

The FASB refers to the financial accounting standards board while on the other hand, the IASB refers to the International accounting standard board. These two boards are related to accounting.

The FASB focused on the U.S accounting standards while the IASB focused on global standards

Here in the given situation, the comparison is to be done in different countries so the above should be considered as an answer