Identify the G.A.A.P. principle from the list below being used in each example [6 Points] a....

Transcribed Image Text:

Identify the G.A.A.P. principle from the list below being used in each example [6 Points] a. You record the shipping you paid on your merchandise as merchandise inventory b. Mr. Green has to prove all of his business transactions, c. Ms. Pink buys $100 of goods, Mrs. White buys $100, but you only gave her $80 worth; you record $180 of revenue d. You record $100 of salary for this month, that you will pay next month; you record the expense & payable e. When Mr. Brown knew his business was being sold, he indicated it on his statements f. Ms. Red did not adjust her accounts due to increased foreign currency value Identify the G.A.A.P. principle from the list below being used in each example [6 Points] a. You record the shipping you paid on your merchandise as merchandise inventory b. Mr. Green has to prove all of his business transactions, c. Ms. Pink buys $100 of goods, Mrs. White buys $100, but you only gave her $80 worth; you record $180 of revenue d. You record $100 of salary for this month, that you will pay next month; you record the expense & payable e. When Mr. Brown knew his business was being sold, he indicated it on his statements f. Ms. Red did not adjust her accounts due to increased foreign currency value

Answer rating: 100% (QA)

SOLUTION Page 1 1 a Principle of Consistency Accountants commit to applying the same standards t... View the full answer