Which of the Following Is Not Recognized as a Source

question 60

Multiple Choice

Which of the following is not recognized as a source of generally accepted accounting principles?

• A) Widespread and long-term use of a particular practice.
• B) The Financial Accounting Standards Board (FASB).
• C) The American Institute of Certified Public Accountants (AICPA).
• D) None of the above. Generally accepted accounting principles may arise from each of these sources.