Generally Accepted Accounting Principles

question 68

Multiple Choice

Generally accepted accounting principles

• A)are laws created and enacted by Congress.
• B)define the standards for internal management reporting.
• C)increase the level of credibility in financial statements.
• D)are created by the Securities and Exchange Commission.

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Definitions:

Standard Occupational Classification System

A federal statistical standard used in the United States to classify workers into occupational categories for the purpose of collecting, calculating, or disseminating data.

Career Exploration

The process of studying, learning about, and examining various occupations or career paths to make informed educational and career decisions.

Veterans

Individuals who have served in the military, often recognized for their service to their country and experience in military roles.

Military Occupation

Refers to the control and possession of a foreign territory by a military force.