What Is Meant by Generally Accepted Accounting Principles

question 32

Essay

What is meant by generally accepted accounting principles?

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Definitions:

Procedure

A set of coded instructions that performs a specific task; similar to a function but may not return a value.

Method

A function associated with an object in object-oriented programming, which allows the object to perform actions or operations.

C

A general-purpose programming language developed in the early 1970s, known for its efficiency and control over system resources.

System Software

Software designed to provide a platform for other software. Examples include operating systems and utility software.