Answered: GAAP (general accepted accounting…

Business

Accounting

GAAP (general accepted accounting principle)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 6MC: The standards, procedures, and principles companies must follow when preparing their financial...

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In 200-300 words , describe the importance and benefits of preparing accounts and implementing accounting policies as per GAAP (general accepted accounting principle)

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