GAAP Refers to Guidelines for Accounting Information in the United

question 244

Multiple Choice

GAAP refers to guidelines for accounting information in the United States.The acronym GAAP in this statement refers to ________.

• A) Globally Accepted Accounting Policies
• B) Government Approved Accounting Principles
• C) Generally Accredited Accounting Policies
• D) Generally Accepted Accounting Principles

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Definitions:

Written Word

Information or content that is expressed in written form, as opposed to spoken word or other modes of communication.

Advertised Reward

An offer of payment published to the general public for the performance of a specific task, such as information leading to the recovery of lost property.

Express Mail

Express Mail is a service that provides expedited mail delivery, often guaranteeing delivery by a specific time the following day or within a specified period.

Acceptance

In contract law, the agreement by a party to the terms of an offer, thereby creating a binding contract.