Complete the Following Using the Terms Listed

question 8

Multiple Choice

Complete the following using the terms listed.
-The _____ is primarily responsible for evaluating,setting,or modifying the generally accepted accounting principles.

• A)certified public accountant
• B)International Financial Reporting Standards
• C)asset
• D)liability
• E)Owners' equity
• F)accounting equation
• G)balance sheet
• H)income statement
• I)Sarbanes-Oxley Act (SOX)
• J)accrual accounting
• K)open book management
• L)budget
• M)generally accepted accounting principles (GAAP)
• N)Financial Accounting Standards Board (FASB)
• O)profitability ratios
• P)International Accounting Standards Committee (IASC)
• Q)Leverage ratios
• R)management accountant

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Definitions:

Competitor Standards

A benchmark or set of metrics used to compare a company's performance, products, or services against those of its competitors.

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of periods to identify trends or significant changes.

Financial Condition

Financial condition signifies the status of a company's or individual's financial health, considering assets, liabilities, and equity at a particular point in time.

Performance Across Time

An assessment of a company's financial and operational results over a specific period, highlighting trends and changes.