(a) Identify the meaning of these accounting-related acronyms: GAAP, SEC, FASB and IASB. (b) Briefly explain the...

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(a) Identify the meaning of these accounting-related acronyms: GAAP, SEC, FASB and IASB.

(b) Briefly explain the importance of the knowledge base or organization that is referred to for each of the accountingrelated acronyms.

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