Financial Accounting Standards Are Known Collectively as GAAP

question 55

Multiple Choice

Financial accounting standards are known collectively as GAAP.What does that acronym stand for?

• A)Generally Accepted Accounting Principles
• B)Generally Applied Accounting Procedures
• C)Governmentally Approved Accounting Practices
• D)Generally Authorized Auditing Principles

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Definitions:

Flame Retardant

A substance that is applied to material or incorporated into it to reduce or inhibit the spread of fire.

Plenum

In building construction, a plenum is a separate space provided for air circulation for heating, ventilation, and air-conditioning (HVAC), often used to house the communication cables in a secure environment.

Heat Sink

A heat sink is a device or substance for absorbing excessive or unwanted heat from an object, often used in computers and other electronic devices to cool processors or other components.

Transfer Heat

The movement of thermal energy from one object or substance to another through various means such as conduction, convection, or radiation.