Examlex
Which of these is false?
Personal Records
Personal records are documents or files pertaining to an individual's private life, including personal identification, financial accounts, health records, and employment details.
Generally Accepted Accounting Principles
A set of accounting standards, principles, and procedures that companies must follow when they compile their financial statements, ensuring transparency and comparability.
GAAP
Generally Accepted Accounting Principles; a collection of commonly-followed accounting rules and standards for financial reporting.
General Accounting Procedures
The standardized methods and practices used by accountants to prepare, present, and report financial statements.
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