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Timeliness of financial statements varies across nations.Which of the following countries has financial statements issued closest to year-end (on average)? A) Japan B) Germany C) Canada D) Italy
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35 votes
35 votes
Timeliness of financial statements varies across nations.Which of the following countries has financial statements issued closest to year-end (on average)?

A) Japan
B) Germany
C) Canada
D) Italy

User Anticyclope
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1 Answer

11 votes
11 votes

Answer: C. Canada

Step-by-step explanation:

While Canada does not enforce a rule that says that companies should issue statements at year end, most companies on average seem to favor having a December year end in Canada than all the other countries on this list.

A survey in 2017 showed that 57% of Canadian companies favored a December year end with the other months not even receiving anything more than 7% each. Compared to the U.S. however, Canada is lacking as 71% or more American companies favored a December year end.

User Viktor Svub
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