Development of Generally Accepted Accounting Principles

question 86

Essay

Development of generally accepted accounting principles
(A. )What is meant by the phrase "generally accepted accounting principles"?
(B. )Give the names of three organizations that currently play an active role in the development of accounting principles in the United States.

---

Definitions:

Thermocouple

A temperature sensor made by joining two different metals that generate a voltage proportional to a temperature difference.

Backplane Current

The electrical current flowing through the backplane of a computer or other electronic system, providing power to mounted components or modules.

Chassis Power Supply

The component that provides electrical power to a computer or device's chassis and its internal components.

PLC Input Interface

The PLC input interface is the component of a Programmable Logic Controller (PLC) where data from external devices is received and converted into a format that the PLC can process.