Generally accepted guidelines formulated by FASB for the preparation of financial statements are called what? Group of answer choices general economic guidelines (GEG) general financial statement principles (GFSP) generally accepted economic guidelines (GAEG) generally accepted accounting principles (GAAP)

Generally accepted guidelines formulated by FASB for the preparation of financial statements are called what? Group of answer choices general economic guidelines (GEG) general financial statement principles (GFSP) generally accepted economic guidelines (GAEG) generally accepted accounting principles (GAAP)

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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These are used by the FASB, and it is a set of concepts that guide financial reporting. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
The standards, procedures, and principles companies must follow when preparing their financial statements are known as which of the following? A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
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