A Common Set of Accounting Standards and Procedures Are Called

question 103

Multiple Choice

A common set of accounting standards and procedures are called

• A) financial accounting standards.
• B) generally accepted accounting principles.
• C) objectives of financial reporting.
• D) statements of financial accounting concepts.

---

Definitions:

Abduction

Movement away from the midline.

Adduction

The movement of a body part toward the body's midline.

Rotation

Movement of a structure about its axis.

Linea Alba

A fibrous structure that runs down the midline of the abdomen, providing muscle attachment.