The Body of Rules and Procedures That Guide the Measurement

question 76

Multiple Choice

The body of rules and procedures that guide the measurement and communication of financial accounting information is known as:

• A) Standards of Professional Compliance (SPC).
• B) Generally Accepted Accounting Principles (GAAP).
• C) Generally Accepted Auditing Standards (GAAS).
• D) Rules of Financial Reporting (RFR).

---

Definitions:

Proposition

A declaration that conveys an assessment or viewpoint, which may be accurate or inaccurate.

Predicate

A term used in logic to refer to the part of a sentence that tells something about the subject or presents an action, often represented after the subject.

Proposition

A declaration that communicates an opinion or judgment.

Bounty Hunter

A person who pursues criminals or fugitives for a monetary reward.