Question: Why are GAAP rules and standards important? Question 9 options: 1 ) They are the foundation of QuickBooks. 2 ) They keep the accounting equation

Why are GAAP rules and standards important?
Question 9 options:
1)
They are the foundation of QuickBooks.
2)
They keep the accounting equation balanced.
3)
They ensure organizations follow consistent financial reporting.
4)
They prevent a company from going bankrupt.

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