GAAP stands for
A) Generally Accepted Auditing Procedures.
B) Generally Accepted Accounting Principles.
C) Generally Accepted Auditing Principles.
D) Generally Accepted Accounting Procedures.

Question

Quizplus · Accepted Answer

GAAP stands for Generally Accepted Accounting Principles. It is a set of standardized accounting rules and procedures that public companies in the United States must follow when preparing financial statements.

GAAP Stands for