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Five factors are often mentioned as affecting a country’s accounting prac- tices: (a) legal system, (b)...

  1. Five factors are often mentioned as affecting a country’s accounting prac- tices: (a) legal system, (b) taxation, (c) providers of financing, (d) inflation, and (e) political and economic ties.

    Required:

    Consider your home country(India). Identify which of these factors has had the stron- gest influence on the development of accounting in your country. Provide spe- cific examples to support your position.

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