What Was the Purpose of the GAAP Hierarchy

question 37

Essay

What was the purpose of the GAAP Hierarchy?

---

Definitions:

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Flood Embankments

Structures built near rivers or coastlines to prevent or reduce the risk of flooding in adjacent land areas; typically earth or concrete barriers.

Social Overhead Capital

Public capital investments in infrastructure like roads, schools, and hospitals, which are necessary for economic activity but not directly profitable.

Human Capital

Refers to the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.