Question: Generally accepted accounting principles ( GAAP ) : are accounting rules determined by the IRS. are accounting rules that all companies ( U . S

Generally accepted accounting principles (GAAP):
are accounting rules determined by the IRS.
are accounting rules that all companies (U.S. or international) must follow.
are a set of accounting standards (rules), principles, and assumptions that a U.S. company must follow when preparing its financial statements for external users.
Both a. and c.
Generally accepted accounting principles (GAAP): are accounting rules determined by the

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