The standards, procedures, and principles companies must follow when preparing their financial statements are known as which
Question:
The standards, procedures, and principles companies must follow when preparing their financial statements are known as which of the following?
A. Financial Accounting Standards Board (FASB)
B. Generally accepted accounting principles (GAAP)
C. Securities and Exchange Commission (SEC)
D. Conceptual framework
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
GAAP is a set of procedures and guidelines used by ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
Match the correct term with its definition. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The State of Connecticut unfortunately has no major professional sports team. Hartford because of location, population, highways, an airport, and prior sports history is a suitable city to host a...
-
Rennie Plant Service completed a special landscaping job for Brenton Company. Rennie uses ABC and has the following predetermined overhead allocation rates The Brenton job included $1,500 in plants;...
-
a. What is the difference between performance measurement and performance evaluation? b. What are the two issues that performance evaluation seeks to address?
-
1. Why is building credibility, legitimacy, and trust particularly important for a start-up venture, regardless of whether it is a for-profit or a nonprofit organization? 2. How can building trust...
-
Discuss the characteristics of industrialism with examples.
-
California Graphics is a U.S. corporation with $200 million of U.S.-source income and $10 million of foreign-source income. In addition, California Graphics has three-quarters ownership of a Canadian...
-
Determine the missing amounts. Unit Selling Price Unit Variable Costs $330 $550 $ (e) $ eTextbook and Media Save for Later $264 $ (c) (1) S Unit Contribution Margin $165 $303 (a) Contributic Margin...
-
Which series has the highest beta. BraveNewCoin Liquid Index for Bitcoin 1D BNC Trading Brave Ne Yellow Green Blue Orange
-
Is the order in which we place information in the journal and ledger important?
-
What is the effect on the accounting equation when a business purchases supplies on account?
-
Using information from the previous exercise, design a user-friendly vendor data input form. Sketch the design on paper or use Microsoft Excel (clip art, shapes, and text boxes) to design your...
-
Given the linear partial differential equation tu- dr Ju du -5u- +7u==0 drt dt du(0, t) t use the technique of separation of variables to re-write the partial differ- ential equation and the boundary...
-
Given the following list of real numbers, use Cantors technique to create a number that is not in the list: Real Numbers 1 0.123456789101112131415161718... 2 0.246810121411618202224262830... 3...
-
Given the function f(x)= = -x + 2, (1/x-3, (a) Evaluate f(-4), f(-2), and f(0). (b) Sketch a graph of f(x). x-2 x>-2 -6 -5 .4 -3 -2 -1 y 6 5 4 3 2 1 -1 -2 -3- -4 -5 d 1 2 3 5 6 X
-
solve the following Question Completion Status: Required: 1. Using Rapala's financial information prepare the Contribution Income Statement. 2. Calculate the contribution margin. 3. Calculate the...
-
Calculate E(rX), E(rY), X and Y respectively. Consider the following two stocks. Assume that the risk-free rate is 2% and agents' utility functions are U= E(rp) - 0.5Ao. Stock X currently trades at...
-
Prove or disprove: Every nonsingular matrix is similar to a diagonal matrix?
-
You are standing on the top of a building and throw a ball vertically upward. After 2 seconds, the ball passes you on the way down, and 2 seconds after that, it hits the ground below. a. What is the...
-
Cozy, Inc., manufactures small and large blankets. It estimates $950,000 in overhead during the manufacturing of 360,000 small blankets and 120,000 large blankets. What is the predetermined overhead...
-
Cozy, Inc., manufactures small and large blankets. It estimates $350,000 in overhead during the manufacturing of 75,000 small blankets and 25,000 large blankets. What is the predetermined overhead...
-
What is the advantage of labeling activities as value added or nonvalue added?
-
A recent "study" examined the possibility of cooking a chicken by slapping it really hard. If your hand has enough kinetic energy, the slap could convert this into thermal energy to cook the bird....
-
Skydiving terminal velocity. When determining the terminalvelocity of items in free fall, the friction factor f is typicallycalled the drag coefficient and is represented by the symbol CD.They are...
-
A steel alloy has a melting temperature = 1450C, its density = 7.87 g/cm2, specific heat=0.46 /gC, and heat of fusion - 270 1/8 Assume specific heat has the same value for solid and molten metal. The...
Study smarter with the SolutionInn App