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Statements that are used to communicate a business's financial informa-on Need to be presented clearly so they can be easily understood In the U.S. they

Statements that are used to communicate a business's financial informa-on

Need to be presented clearly so they can be easily understood

In the U.S. they are prepared using a set of principles called Generally Accepted Accounting Principles (GAAP) Generally Accepted Accounting Principles

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