Accounting Practices and Procedures Used to Prepare Financial Statements Are

question 206

Multiple Choice

Accounting practices and procedures used to prepare financial statements are called

• A) SEC.
• B) FASB.
• C) GAAP.
• D) IRB.

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Definitions:

Engaging

Captivating or holding someone's interest or attention.

Unenforceable

A term that describes a contract or clause that cannot be legally enforced or compelled in court.

Usurious Interest

refers to the charging of excessively high or illegal rates of interest on loans.

Forfeit

To lose or give up something as a penalty for wrongdoing or failure to comply with certain conditions.