U.S. standards are referred to as
A)IFRS.
B)GAAP.
C)IASB.
D)FASB.

Name: U.S. standards are referred to as A)IFRS. B)GAAP. C)IASB. D)FASB.
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Question

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U.S. standards are referred to as GAAP, which stands for Generally Accepted Accounting Principles. IFRS refers to International Financial Reporting Standards, IASB refers to International Accounting Standards Board, and FASB refers to Financial Accounting Standards Board – all of which are not specific to the United States.

U.S. Standards Are Referred to as