The Underlying Concepts That Make Up Acceptable Accounting Practices Are

question 48

True/False

The underlying concepts that make up acceptable accounting practices are referred to as generally accepted accounting principles (GAAP).

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Definitions:

Web

The vast, interconnected system of unique resources and pages on the Internet, accessible through browsers.

Placeholder

Pre-designed areas in documents or presentations meant to guide the user in entering specific types of content.

Currency

The system of money in general use in a particular country, or the state of being current or up-to-date.

Format

The arrangement, design, or organization of data according to a specified structure or set of conventions, often applied in text documents, spreadsheets, and databases.