Examlex
Which of the following statements about directional selection are true? Please select all that apply.
FASB
The Financial Accounting Standards Board, which is responsible for developing accounting standards in the United States.
Accounting Assumptions
The foundational principles that guide the preparation of financial statements, including going concern, accrual basis, and monetary unit assumptions.
Conventions
Agreed-upon practices or methodologies in accounting and finance that ensure consistency and compliance with standards.
Principles
In the context of accounting, principles refer to the fundamental guidelines or rules that govern the practice of accounting.
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