GAAP stands for:
A)generally accepted auditing practices.
B)generally accrued auditing procedures.
C)generally accepted accounting principles.
D)generally accrued accounting principles.

Question

Quizplus · Accepted Answer

GAAP stands for Generally Accepted Accounting Principles, which are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements.

GAAP Stands For