Which of the following accounting principles does theSecurities and Exchange Commission (SEC) require U.S. firms to use when filing their financial statements?

A. International Accounting Standards Board (IASB)
B. International Financial Reporting Standards (IFRS)
C. Generally Accepted Accounting Principles (GAAP)
D. National Advisory Accounting Standards (NAAS)
E. Financial Accounting Standards Principles (FASP)


Answer: C

Business

You might also like to view...

In REA, resources are assets that include accounts receivable

Indicate whether the statement is true or false

Business

Provide an interpretation of all elements

The analytics gurus at Zevon realize that they had misformulated their demand curves. They now believe that demand for X1 is given by 1000 - 2.25p1, demand for X2 is given by 2000 - 3p2, and demand for X3 is given by 3000 - 3.5p3. This model is entered in Excel and the sensitivity report contains the following: Constraints Final Lagrange Cell Name Value Multiplier $F$8 Lawyers 5000.00 101.052 $F$9 Guns 9275.74 0 $F$10 Money 9213.49 0

Business

Investors make their choices of which assets to hold by comparing the expected return, liquidity, and risk of alternative assets

Indicate whether the statement is true or false

Business

Corporations have existed for centuries, but the modern "liberal" general incorporation statutes were first passed in:

a. the late 1700s b. the 1930s c. the 1950s d. the 1960s e. none of the other choices

Business