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All the following are true regarding the FASB Accounting Standards Codification except 1. The Codification changes the way GAAP is documented, presented, and updated 2.

All the following are true regarding the FASB Accounting Standards Codification except

1.

The Codification changes the way GAAP is documented, presented, and updated
2.

The goal of the Codification was to provide one place where all authoritative literature about a particular topic could be found
3.

The purpose of the Codification is to create new GAAP
4.

The Codification was created to simplify user access

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