It means that the FASB has completed an extensive process of research and develop- ment, including receiving
Question:
It means that the FASB has completed an extensive process of research and develop- ment, including receiving input from interested individuals and organizations, and has made an authoritative pronouncement that defines accounting and reporting for a specific activity or transaction and becomes a generally accepted accounting principle.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Accounting What The Numbers Mean
ISBN: 9780073379418
8th Edition
Authors: David Marshall, Wayne McManus, Daniel Viele
Question Posted: