which of the following statements describes gaap? a. gaap standards are written and regulated by the…

which of the following statements describes gaap? a. gaap standards are written and regulated by the government. b. it is legally required that all companies meet gaap standards. c. companies that meet gaap standards usually use cash basis accounting. d. gaap recommends accrual basis accounting.

which of the following statements describes gaap? a. gaap standards are written and regulated by the government. b. it is legally required that all companies meet gaap standards. c. companies that meet gaap standards usually use cash basis accounting. d. gaap recommends accrual basis accounting.

Answer

Brief Explanations:

GAAP (Generally Accepted Accounting Principles) recomienda la contabilidad sobre la base de los derechos y obligaciones (acrual - basis accounting). No está regulado exclusivamente por el gobierno, no es legalmente obligatorio para todas las empresas y no se asocia con la contabilidad sobre la base del efectivo.

Answer:

D. GAAP recommends accrual basis accounting.