Which of the following refers to the rules and procedures governing the content and form of financial reports?
A) national bookkeeping standards
B) core competencies for accounting
C) accounting and financial rules
D) national guidelines of accounting principles
E) generally accepted accounting principles

Question

Quizplus · Accepted Answer

E)GAAP is formulated by the Financial Accounting Standards Board (FASB)of the AICPA and should be used to determine whether a firm has controls to prevent errors and fraud.

Which of the Following Refers to the Rules and Procedures