What must every corporation do in maintaining and reporting its financial status?
A) purchase stocks on margin
B) use creative accounting practices
C) support increased stock prices
D) aim to maximize predicted profit margins
E) conform to generally accepted accounting principles

Question

Quizplus · Accepted Answer

E)Every corporation must conform to generally accepted accounting practices (GAAP). This ensures that all corporations are held to the same standards for assessing their financial information.

What Must Every Corporation Do in Maintaining and Reporting Its