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:

Lowest Opportunity Cost

The situation where the choice made uses the least possible sacrifice of alternatives, having the minimal foregone benefits among all options.

Produce More

The act of increasing the output or quantity of goods or services produced by a company, entity, or individual.

Trade Restrictions

Government-imposed limitations on the free exchange of goods and services between countries.

Unilaterally

Acting or done by one side alone without agreement or consultation with others.