________ are rules and procedures governing the content and form of financial reports.
A) National guidelines
B) Accounting and Financial Rules
C) National Association of Accounting Principles
D) Generally Accepted Accounting Principles

Question

Quizplus · Accepted Answer

Generally Accepted Accounting Principles (GAAP) are rules and procedures governing the content and form of financial reports. These principles are formulated by the Financial Accounting Standards Board (FASB) and are followed by most businesses in the United States to ensure consistency and transparency in financial reporting.

________ Are Rules and Procedures Governing the Content and Form