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After completing this learning objective, you should be able to identify the role of generally accepted accounting principles $($GAAP$)$ in determining financial statement content and how companies ensure the accuracy of their financial statements.

Knowledge Check $01$

Which of the following is the group that has the primary responsibility for the accuracy of a company$$s financial information?

Multiple Choice

Management

The Securities and Exchange Commission

The Financial Accounting Standards Board

The company$$s auditors