The book mentions various foundations or principles of GAAP that a company must follow. These include: (CHOOSE ALL THAT APPLY, this is not multiple choice) International Standards Materiality Continuation of methods or assumptions from year-to-year Depreciation of assets The basis for determining the value of an previously acquired asset is what it would currently cost Estimations of historical cost Disclosure of change in assumprtions Required reconciliation of GAAP and non-GAAP