You are interning as a CPA's assistant and helping prepare financial statements when you come across a transaction that causes you doubt. Describe that transaction and how you would go about researching the proper GAAP principles. 

Which principle(s) apply to the transaction you are feeling doubtful about? With examples.

How would the principle(s) guide you in the next steps you would take to resolve the issue?

Answer rating: 100% (QA)

1 The transaction that has caused doubt is a large purchase of equipment for a client 2Under General... View the full answer