The rules adopted by the accounting profession as guides in preparing financial statements are:
A: Comprised of both general and specific principles.
B: Known as generally accepted accounting principles.
C: Abbreviated as GAAP.
D: Intended to make information in financial statements relevant, reliable, and comparable.
E: All of these.
A: Comprised of both general and specific principles.
B: Known as generally accepted accounting principles.
C: Abbreviated as GAAP.
D: Intended to make information in financial statements relevant, reliable, and comparable.
E: All of these.
举一反三
- 中国大学MOOC: In preparing financial statements, accountants adhere to a uniform set of rules called government approved accounting principles (GAAP)._
- Which of the following statement is true? Statement A: Financial statements are prepared on the basis of accounting principles. Statement B: Any changes in the accounting principles or method will affect the utility of the financial statements. ( ) A: A is true but not B B: B is true but not A C: Both are false D: Both are true
- The field of accounting may not be described as: A: Recording the financial transactions of an economic entity. B: Developing information in conformity with generally accepted accounting principles. C: The art of interpreting, measuring, and describing economic activity. D: Developing the information required for the preparation of income tax returns.
- Basic accounting addresses introduction to the concepts and principles of the accounting process, the technical and procedural aspects of preparing external financial statements.( ）
- 中国大学MOOC: The following statements relate to financial accounting or to cost and management accounting: (i) The main users of financial accounting information are external to an organisation. (ii) Cost accounting is part of financial accounting and establishes costs incurred by an organisation. (iii) Management accounting is used to aid planning, control and decision making. Which of the statements are correct?