GAAP refer to guidelines for accounting information in the United States.The acronym GAAP in this statement refers to ________.
A)Globally Accepted and Accurate Policies
B)Global Accommodation Accounting Principles
C)Generally Accredited Accounting Policies
D)Generally Accepted Accounting Principles

Question

Quizplus · Accepted Answer

GAAP stands for Generally Accepted Accounting Principles in the United States. It refers to a set of guidelines and standards for financial accounting and reporting that are widely recognized and followed in the country.

GAAP Refer to Guidelines for Accounting Information in the United