P 1. We are focused on the preparation of the general purpose financial statements. What is meant by general purpose? 2. The financial statements must be prepared in accordance with Generally Accepted Accounting Principles (GAAP). Who develops and adopts GAAP? 3. Why should having a set of rules be important to financial statement users? 4. What is the auditor's report? 5. What does it mean when an auditor issues an unqualified opinion? Edit View Insert Format Tools Table 12pt Paragraph BIUA E O words