A set of rules used by all accountants to provide a consistent form in which to provide
Question:
A set of rules used by all accountants to provide a consistent form in which to provide financial information is referred to as
a. American CPA Rules.
b. GAAP.
c. Financial Accounting.
d. Management Accounting.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (18 reviews)
GAAP is a set of procedures and guidelines used by comp...View the full answer
Answered By
Hardik Dudhat
I am semi-qualified Chemical Engineering ,I have scored centum in accounting in my senior secondary and in my graduation. I have always helped my fellow students with their concerns on the subject, i have tutored on various tutoring sites in the past and also have taken home tuitions for degree and MBA students. As a tutor, I don't want my students to just get a solution, I want them to understand the concept and never have a doubt in that area thereon and i believe in excelling and not in educating.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Develop a set of rules that captures your thought process in completing a frequently performed task-choosing which clothes to wear to school or work, deciding what route to take to school or work,...
-
What are the advantages of having a set of rules or standards in accounting?(ex: cost principle, etc.).
-
1. An acceptable use policy is a set of rules specifying the legal and ethical use of a system and the consequences of noncompliance. True or False? 2. According to Brookings Institution for every 1...
-
A car is initially travelling at 3 0 m / s , which is above the speed limit . The driver sees a speed limit trap ahead and applies the brakes for 5 seconds, causing the car to slow down by 2 m / s...
-
Consensus is highly valued in many settings. Positive outcomes in terms of commitment, motivation, and ownership are more likely when decision makers come to understand the reasons why a decision...
-
Templeton World is a mutual fund that invests in both U.S. and foreign markets. Let x be a random variable that represents the monthly percentage return for the Templeton World fund. Based on...
-
The fraction of the variation in the values of y that is explained by the least-squares regression of y on x is (a) the correlation. (b) the slope of the least-squares regression line. (c) the square...
-
The following financial data were reported by 3M Company for 2008 and 2009 (dollars in millions). Instructions(a) Calculate the current ratio and working capital for 3M for 2008 and 2009.(b) Suppose...
-
Shawn Ltd prepared an Income Statement for the financial year ending 30 June 2021 but failed to take into account three adjusting entries. Relevant information for the three adjusting entries were:...
-
According to an article in USA Today, 90% of Americans will suffer from high blood pressure as they age. Out of 20 randomly chosen people what is the probability that at most 3 will suffer from high...
-
Think of a business you would like to start. Describe the business operation and choose the best form of organization for your new business. Why did you choose this particular form of business...
-
a. Describe the purpose of accounting. b. What does the accounting system do?
-
Purchases are categorizedas_. LO.1
-
Following the example shown in (a) below, indicate the effects of the listed transactions on the assets, liabilities, and stockholders equity of John Dallmus, certified public accountant, a...
-
What effect does the ordering of a search tree have on the efficiency of the search? What effect does it have on the quality of the results? How would order affect the way that depth-first search or...
-
For each of the accounts listed below, indicate whether the account is increased by a debit or a credit: Accounts Receivable Sales Revenue Equipment Common Stock Notes Payable Retained Earnings...
-
Smart Sports is also planning to launch a range of drinks products. The products have been developed by Hydration Labs Ltd and are designed to be sold as powders that dissolve easily in water. They...
-
Baucom Company accepted credit cards in payment for \(\$ 6,850\) of services performed during March 2011. The credit card company charged Baucom a 4 percent service fee. The credit card company paid...
-
The heights (in feet) and the numbers of stories of the nine tallest buildings in Houston, Texas (a) x = 950 feet (b) x = 850 feet (c) x = 800 feet (d) x = 700 feet Find the equation of the...
-
General Electric Capital, a division of General Electric, uses long-term debt extensively. In a recent year, GE Capital issued $11 billion in long-term debt to investors, then within days filed legal...
-
Research has shown that only about three out of every four customers are, on ave r age, satisfied by a firms marketing programs. Give an example of a purchase you made where you were not satisfied...
-
Distinguish between an attractive opportunity and a breakthrough opportunity. Give an example.
-
Explain how new opportunities may be seen by defining a firms markets more pr e cisely. Illustrate for a situation where you feel there is an opportunity namely, an unsatisfied ma r ket segmenteven...
-
Only need help on 4B and 5. Exercise 9-21 Breakeven Planning; Profit Planning (LO 9-2, 9-3] Connelly Inc., a manufacturer of quality electric ice cream makers, has experienced a steady growth in...
-
A project with an initial cost of $32,000 is expected to provide cash flows of $12,900, $13,100, $16,200, and $10,700 over the next four years, respectively. If the required return is 8.1 percent,...
-
A company that is expecting to receive EUR 500,000 in 60 days is considering entering into an FX futures contract to lock an exchange rate to USD for the transaction. The FX rate on the contract is...
Study smarter with the SolutionInn App