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.

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Definitions:

Mental Scale

A mental scale is a method or tool used to evaluate, measure, or assess an individual's cognitive abilities, mental states, or psychological traits.

Understanding Of Class

The comprehension of social strata and the hierarchies based on aspects like wealth, occupation, education, and power.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.

Systematic Scrutiny

A methodical and thorough examination or investigation of a subject or system.