Put the three levels of the literature hierarchy for U. S. GAAP in correct order (use 1,

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Put the three levels of the literature hierarchy for U. S. GAAP in correct order (use 1, 2, 3):
Level Authoritative Literature
______________ Authoritative rules and principles for similar transactions.
______________ Codification and all SEC rules and interpretive releases. While the Codification applies to all entities that report under U. S. GAAP, the SEC materials only apply to publicly- traded registrants.
______________ Other material such as the FASB Concepts Statements, IFRS, industry practice, and textbooks. GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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