Examlex
Cutbacks in auto sales due to increased imports from Japan is an example of
GAAP
Generally Accepted Accounting Principles, a common set of accounting rules and standards for financial reporting used in the United States.
Accounting Principles
Fundamental guidelines or rules that govern the financial reporting process, ensuring the consistency, reliability, and comparability of financial statements.
Auditing Procedures
The methods and tests auditors use to gather evidence and evaluate the validity of a company's financial statements.
Ethics
A set of moral principles that guide the behavior of individuals and organizations, ensuring actions align with societal, professional, and individual standards of conduct.
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