Which GAAP applies only to those businesses that use an accrual system of accounting? a. Matching Principle

Question:

Which GAAP applies only to those businesses that use an accrual system of accounting?

a. Matching Principle

b. Conservatism Principle

c. Consistency Principle

d. Objectivity Principle

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...