Question: Begin with the accounting terms numbered 7 through 1 1 , then complete Accounting Term Definition Cost principle GAAP Faithful representation SEC FASB Defintions a

Begin with the accounting terms numbered 7 through 11, then complete
Accounting Term
Definition
Cost principle
GAAP
Faithful representation
SEC
FASB
Defintions
a. oversees the creation and governance of accounting standards in the United States
b. requires an organization to be a separate economic unit
c. oversees U.S. financial markets
d. states that acquired assets and services should be recorded at their actual cost
e. creates International Financial Reporting Standards
f. the main U.S. accounting rule book
g. assumes that an entity will remain in operation for the foreseeable future
h. assumes that items on the financial statements are recorded in a monetary unit
i. requires information to be complete, neutral, and free from material error
Begin with the accounting terms numbered 7 through 11, then complete

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