FASB and International Accounting Standards are secondary sources of GAAP.

Name: FASB and International Accounting Standards are secondary sources of GAAP.
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FASB and International Accounting Standards are not the primary source of GAAP, but they are secondary sources that provide guidance and interpretation of GAAP principles. The primary source of GAAP is the Financial Accounting Standards Board (FASB)'s Accounting Standards Codification (ASC).

FASB and International Accounting Standards Are Secondary Sources of GAAP