Accounting in the United States follows Generally Accepted Accounting Principles (GAAP), which are based on certain assumptions
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Accounting in the United States follows Generally Accepted Accounting Principles (GAAP), which are based on certain assumptions and principles. Use the course text to learn the information for this question.
Be sure to list the text as a Reference:
- 1) Describe GAAP?
- 2) Explain each of the four main assumptions and then give your own example for each?
- 3)Explain each of the four main principles and then give your own example for each/
- 4) Explain why these are important and how they will be used in understanding the accounting you will be learning?
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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