Which of the following regarding GAAP is true? a. U.S. GAAP is the body of accounting knowledge

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Which of the following regarding GAAP is true?

a. U.S. GAAP is the body of accounting knowledge followed by all countries in the world.

b. Changes in GAAP can affect the interests of managers and stockholders.

c. GAAP is the abbreviation for generally accepted auditing procedures.

d. Changes to GAAP must be approved by the Senate Finance Committee.

LO1.

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Financial Accounting

ISBN: 9780073208145

5th Edition

Authors: Robert Libby, Patricia Libby, Daniel Short

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Question Posted: Jun 16, 2024 04:34 AM

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Which of the following regarding GAAP is true? a. U.S. GAAP is the body of accounting knowledge

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Financial Accounting

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