Generally Accepted Accounting Principles Identify whether the following statements are true or false: U.S. GAAP is universally accepted in all countries in the world. The international counterpart to the FASB is the IASB. Once established, U.S. GAAP is rarely, if ever, modified. U.S. GAAP is established by the IASB. Choose... Choose... Choose... Choose...

Generally Accepted Accounting Principles Identify whether the following statements are true or false: U.S. GAAP is universally accepted in all countries in the world. The international counterpart to the FASB is the IASB. Once established, U.S. GAAP is rarely, if ever, modified. U.S. GAAP is established by the IASB