Which of the following statements about GAAP is not true?

a$.$ GAAP impacts how companies report and what they report.

b$.$ GAAP is a standard set of principles and assumptions that allows for the comparison of financial performance.

c$.$ GAAP is the principles and assumptions that the management of a company uses to record and report its financial information.

d$.$ GAAP allows a company's management to record and report data as it sees fit.