Match the correct term with its definition. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting
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Match the correct term with its definition.
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A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework E. going concern assumption F. time period assumption i. used by the FASB, which is a set of concepts that guide financial reporting ii. independent, nonprofit organization that sets financial accounting and reporting standards for both public and private-sector businesses that use generally accepted accounting principles (GAAP) here in the United States iii. standards, procedures, and principles companies must follow when preparing their financial statements iv. assumes a business will continue to operate in the foreseeable future v. independent federal agency protecting the interests of investors, regulating stock markets, and ensuring companies adhere to GAAP requirements vi. companies can present useful information in shorter time periods such as years, quarters, or months
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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