In the Phrase "Generally Accepted Accounting Principles," the Words Accounting

question 62

Multiple Choice

In the phrase "generally accepted accounting principles," the words accounting principles refers to:

• A)The standards,assumptions,and concepts that serve as "ground rules" for financial reporting.
• B)Ethical standards that prohibit fraudulent or misleading financial reporting.
• C)The steps in the accounting cycle.
• D)The accounting practices authorized by the Financial Accounting Standards Board (FASB).

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Definitions:

Three Priority Levels

A system of classification that ranks items or tasks according to their urgency or importance into three categories.

Alarms

Signals or notifications designed to alert users about a specific condition or event, often used in security systems, smartphones, and applications.

Flags

Visual markers used in various applications to highlight or categorize items for easy identification.

Due Date

The specified date by which a task, assignment, or payment is to be completed or submitted.