U.S.GAAP Are

question 42

Multiple Choice

U.S.GAAP are:

• A) another term for IFRS.
• B) the accounting rules developed by the IASB for use in the United States.
• C) the oversight board that supervises auditors .
• D) the accounting rules developed by the FASB for use in the United States.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members from the company's earnings.

Equity

The value of an owner's interest in a property or business, after all debts associated with that property or business are paid off.

EBIT

EBIT, which stands for Earnings Before Interest and Taxes, calculates a company's earnings without considering income tax and interest expenses.

Ending Equity

The value remaining for shareholders after subtracting liabilities from assets, evaluated at the end of an accounting period.