GAAP refers to:

Name: GAAP refers to:
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GAAP refers to:

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GAAP refers to generally accepted accounting principles and in the United States, GAAP is set by FASB-the Financial Accounting Standards Board.
Key Takeaway: Generally accepted accounting principles are the commonly-followed rules and standards that govern preparation, presentation, and reporting of financials in the accounting process. GAAP not only contains general commonly followed accounting rules, but industry-specific standards, as well.

GAAP Refers To