Accountants Must Follow GAAP but Not GAAS

question 31

True/False

Accountants must follow GAAP but not GAAS.

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Definitions:

Benzodiazepines

A class of psychoactive drugs used to treat conditions such as anxiety, insomnia, and seizures by enhancing the effect of the neurotransmitter GABA in the brain.

Anxiety Disorders

A group of mental health disorders characterized by significant feelings of anxiety and fear, affecting the individual's ability to function daily.

Xanax

A prescription medication used for the treatment of anxiety and panic disorders, classified as a benzodiazepine.

Valium

A medication belonging to the benzodiazepine class, commonly used to treat anxiety, muscle spasms, and seizures.