To Provide Reliable, Consistent, and Unbiased Information to Decision Makers

question 38

Multiple Choice

To provide reliable, consistent, and unbiased information to decision makers, accountants follow guidelines, or standards, known as ____________________________.

• A) Accounting Standards Board (AcSB).
• B) Generally Accepted Accounting Principles (GAAP).
• C) business transactions.
• D) financial statements.

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Definitions:

Condense

To reduce something, such as a text or statement, to a shorter form while retaining most of the essential content.

Data

Facts and statistics collected together for reference or analysis.

Paraphrase

To express the meaning of something using different words, especially to achieve greater clarity.

Own Words

Expression or articulation of thoughts and ideas in an individual's unique style or manner.