The firm's primary accounting system that produces financial data for external users is governed by:
A) accounting standards.
B) all of the choices are correct.
C) generally accepted accounting principles.
D) traditional accounting conventions.

Question

Quizplus · Accepted Answer

The firm's primary accounting system that produces financial data for external users is governed by accounting standards, generally accepted accounting principles (GAAP), and traditional accounting conventions. These frameworks ensure the accuracy, reliability, and comparability of financial statements.

The Firm's Primary Accounting System That Produces Financial Data for External