Instructions: for each question, answer using your own words with paragraphs using 1-2 references from course materials properly cited following APA...

Instructions: for each question, answer using your own words with paragraphs using 1-2 references from course materials properly cited following APA guidelines. Each answer should be no more than one page in length. Answer all questions. Questions are equally weighted.

 Question 1

What are the advantages and disadvantages of a single set of financial statements for all corporations to follow?