The public accountant examines a company's financial statements and submits an opinion on whether they have been prepared in accordance with _____.

Question

Quizplus · Accepted Answer

GAAP stands for Generally Accepted Accounting Principles, which are the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards. Public accountants use these principles to guide their examination of a company's financial statements.

The Public Accountant Examines a Company's Financial Statements and Submits