Select all that apply Identify the true statements about generally accepted accounting principles (GAAP). (Check all that apply.) Multiple select question. It is a set of measurement and disclosure rules concerning information about income, assets, and liabilities. Disclosing any non-GAAP financial metrics, even when they are accurate and less prominent than GAAP disclosures, violates the securities law. It protects companies from having to disclose crucial information to market participants. Disclosing material information not in accordance to GAAP subjects companies to potential civil and criminal penalties