The Generally Accepted Accounting Principles (GAAP) Are

question 4

Multiple Choice

The generally accepted accounting principles (GAAP) are:

• A) rules that define a company's ethics.
• B) rules on how the company will be valued in the event of a merger.
• C) rules and procedures that define how companies are to maintain financial records and prepare financial statements.
• D) rules for how a company can issue shares to raise money.