Accountants:
A) generally construct financial statements using the cash-based approach
B) generally construct financial statements using the accrual-based approach
C) must apply Generally Accepted Accounting Principles to fairly portray how the firm has performed in the past
D) must apply Generally Accepted Accounting Principles to fairly portray how the firm will perform in the future
E) both (b) and (c)
Correct Answer:
Verified
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