Problem
1. What is the disappearing asset problem?
2. What does the term junctional currency mean?
3. Why did SFAS No.8 present an enormous problem in the area of eco-. monic consequences?
4. What does harmonization of accounting standards mean?
5. What is convergence and how does it differ from harmonization?
6. Why has the EU opted to use exclusively IASB standards for consolidated financial statements beginning in 2005?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.