Answered: GAAP stands for: a. governmental…

GAAP stands for: a. governmental auditing and accounting practices. b. generally accepted attest principles. c. government audit and attest policies. d. generally accepted accounting principles.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 7MC: These are used by the FASB, and it is a set of concepts that guide financial reporting. A. Financial...

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Question

GAAP stands for:

a. governmental auditing and accounting practices.

b. generally accepted attest principles.

c. government audit and attest policies.

d. generally accepted accounting principles.

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