Accounting Standards Prescribed by Generally Accepted Accounting Principles (GAAP) Are

question 40

Multiple Choice

Accounting standards prescribed by generally accepted accounting principles (GAAP) are important because:

• A) they make the financial statements of all firms standardized.
• B) they allow one to examine a firm's performance with ease over a period of time.
• C) they make it possible for management or analysts to compare a firm's performance with that of other competitors.
• D) All of the above.

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