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The set of standards used in preparing the historical financial statements, such as GAAP or IFRS, is referred to as a. the applicable financial reporting

The set of standards used in preparing the historical financial statements, such as GAAP or IFRS, is referred to as

a. the applicable financial reporting framework

b. Generally Accepted Auditing Standards (GAAS)

c. material modifications

d. a review of historical financial statements

(answer b is incorrect)

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