Generally Accepted Accounting Principles (GAAP) Were (Are) Established By

question 110

Multiple Choice

Generally accepted accounting principles (GAAP) were (are) established by:

• A) an Italian monk in 1494.
• B) the U.S. Congress in 1933.
• C) the PCAOB in 2004.
• D) the FASB.

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Definitions:

Repolarization

The process by which a cell's membrane potential returns to its resting state following depolarization.

Resting Membrane Potential

The electric potential difference across the membrane of a resting (non-active) cell, essential for the transmission of nerve impulses.

Plasma Membrane

The semipermeable membrane surrounding the cytoplasm of a cell, which regulates the movement of substances in and out of the cell.

Membrane Potential

The voltage difference across a cell's plasma membrane, crucial for the conduction of electrical signals in nerve and muscle cells.