The Set of Rules That a U

question 123

Multiple Choice

The set of rules that a U.S.company must follow when preparing its financial statements is called ________.

• A)generally accepted accounting principles
• B)internal revenue code
• C)internal control procedures
• D)internally accepted accounting principles

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Definitions:

Cotton Kingdom

The term used to describe the Southern United States in the 19th century, where the economy was heavily dependent on cotton cultivation and slavery.

Slave Labor

The forced labor of individuals who are owned by others, without the freedom to refuse work and without rightful compensation.

Deep South

A term used to describe the most south-eastern states of the United States, known for their historical reliance on agriculture, particularly cotton, and where slavery and racial segregation were deeply rooted.

Irish Immigrants

Individuals from Ireland who moved to other countries, notably the United States, in significant numbers, especially during the 19th and early 20th centuries, seeking better opportunities.