Which one of the following statements correctly describes a fundamental difference between generally accepted accounting principles (GAAP) and statutory accounting principles (SAP) ? Available answer options Select only one option A GAAP focus on measuring earnings from period to period, and SAP focus on the ability of the insurer to meet its obligations to policyholders. B GAAP is based on a liquidation perspective and SAP is based on a going-concern prospective. C GAAP generally uses a more conservative actuarial methodology than SAP. D GAAP is the required method of financial reporting for insurers in the United States and SAP is the required method for all publicly traded corporations