GAAP,like any operating standard,are open to interpretation and abuse.

Name: GAAP,like any operating standard,are open to interpretation and abuse.
Brand: Quizplus
Rating: 4.8 (61 reviews)

Question

Quizplus · Accepted Answer

GAAP (Generally Accepted Accounting Principles) provide a set of guidelines for accounting practices, but they are not always clear-cut and can be interpreted differently by different people. Additionally, some individuals or companies may intentionally misinterpret or abuse GAAP to manipulate financial statements for personal gain.

GAAP,like Any Operating Standard,are Open to Interpretation and Abuse