Jenna believes that the same GAAP should be used by every company, whether large or small and

Question:

Jenna believes that the same GAAP should be used by every company, whether large or small and whether public or private. Do you agree? Explain.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...