Generally Accepted Accounting Principles, or GAAP, is a set of accounti procedures, standards, and procedures that companies use to compile t financial statements. Select THREE of the following items that demonst GAAP is important for accounting and finance professionals. it allows CPAs to make a good salary the consistent use of methods and procedures allows for fair comparisons betwee companies it allows persons reading the financial statements to rely on them it ensures that audits are completed in a standard manner

Generally Accepted Accounting Principles, or GAAP, is a set of accounti procedures, standards, and procedures that companies use to compile t financial statements. Select THREE of the following items that demonst GAAP is important for accounting and finance professionals. it allows CPAs to make a good salary the consistent use of methods and procedures allows for fair comparisons betwee companies it allows persons reading the financial statements to rely on them it ensures that audits are completed in a standard manner

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Generally Accepted Accounting Principles, or GAAP, is a set of accounting
procedures, standards, and procedures that companies use to compile their
financial statements. Select THREE of the following items that demonstrate why
GAAP is important for accounting and finance professionals.
it allows CPAs to make a good salary
the consistent use of methods and procedures allows for fair comparisons between
companies
it allows persons reading the financial statements to rely on them
it ensures that audits are completed in a standard manner

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