Why does GAAP allow management to make estimates of amounts that are included in financial statements? Does

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Why does GAAP allow management to make estimates of amounts that are included in financial statements? Does this improve the usefulness of financial statements? Explain.

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Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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Question Posted: Oct 15, 2021 03:55 AM

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Why does GAAP allow management to make estimates of amounts that are included in financial statements? Does

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Estimates are necessary in order to accurately measure a...View the full answer

Financial Accounting

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