In the US ,Generally Accepted Accounting Principles (GAAP)are Established by The

question 191

Multiple Choice

In the U.S. ,Generally Accepted Accounting Principles (GAAP) are established by the:

• A)International Accounting Standards Board (IASB).
• B)Public Company Accounting Oversight Board (PCAOB).
• C)Financial Accounting Standards Board (FASB).
• D)American Institute of Certified Public Accountants (AICPA).

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Definitions:

Maker

In financial terms, the party that creates or issues a promissory note or draft, committing to pay the specified amount.

Bank Statement

A record issued by a bank detailing all transactions in a depositor's account over a given period.

Depositor's Account

An account maintained by a bank or financial institution for the depositor, recording the amount of money deposited.

Account Balance

The amount of money in a financial repository at any given moment, which can include bank accounts or credit accounts.