Identify the Four Goals of Generally Accepted Accounting Principles (GAAP)

question 28

Essay

Identify the four goals of generally accepted accounting principles (GAAP).

---

Definitions:

Stereotype

A fixed, overgeneralized belief about a particular group or class of people, often leading to prejudicial attitudes and behaviors.

Consensus

General agreement among a group or the collective opinion of a majority within a specific context.

Impressions

Initial perceptions or mental images formed based on experiences or information.

Performance Suffers

A decline in the quality or efficiency of one's work or ability in specific tasks, often due to various factors like stress, burnout, or lack of practice.