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samualson samualson
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6 years ago
Which of the following statements about Generally Accepted Accounting Principles (GAAP) is NOT true?
A) GAAP is a set of rule-based accounting standards established by the Financial Accounting Standards Board (FASB).
B) GAAP sets out the standards, conventions, and rules that accountants must follow when preparing audited financial statements.
C) GAAP is complex, providing more than 150 "pronouncements" as to how to account for different types of transactions.
D) All of the statements above are true.
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
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Marc18Marc18
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6 years ago
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samualson Author
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#2
6 years ago
Thank you for being such a great website leader! Your answer's right.
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