Generally accepted accounting principles (GAAP) are defined, in part, as those principles that have substantial authoritative support.

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GAAP is a collection of commonly-followed accounting rules and standards for financial reporting. The phrase "substantial authoritative support" means that these principles are supported and enforced by regulatory bodies, ensuring that financial statements are consistent, comparable, and transparent.

Generally Accepted Accounting Principles (GAAP) Are Defined, in Part, as Those