Generally accepted accounting principles are: (a) a set of standards and rules that are recog- nized as

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Generally accepted accounting principles are:

(a) a set of standards and rules that are recog- nized as a general guide for financial reporting.

(b) usually established by the Internal Revenue Service.

(c) the guidelines used to resolve ethical dilemmas.

(d) fundamental truths that can be derived from the laws of nature.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471691952

3rd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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