Accounting principles are "generally accepted" only when
A) an authoritative accounting rule-making body has established it in an official pro-nouncement.
B) it has been accepted as appropriate because of its universal application.
C) both a and b.
D) neither a nor b.
Correct Answer:
Verified
Q10: All those who serve on the FASB
Q11: FASB Interpretations represent modifications or extensions of
Q12: FASB Technical Bulletins are designed to provide
Q13: A major role of the Accounting Standards
Q14: Generally accepted accounting principles (GAAP) are defined,
Q15: The information provided by financial reporting pertains
Q17: The major distinction between the Financial Accounting
Q18: FASB Technical Bulletins
A) are similar to FASB
Q19: The following published documents are part of
Q20: In the House of GAAP, is the
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