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Why is the ASC so important? (RAB 9) It forces FASB to be more efficient in setting GAAP. It summarizes all of GAAP for quick

Why is the ASC so important? (RAB 9)

It forces FASB to be more efficient in setting GAAP.

It summarizes all of GAAP for quick reference.

It reduces the amount of change in GAAP.

It combines all of GAAP in one database.

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