Which of the following authorities require that companies present comparative financial statements that include both the current year and the previous year?
A)IRS
B)GAAP
C)IIA
D)GAAS

Question

Quizplus · Accepted Answer

GAAP (Generally Accepted Accounting Principles) require companies to present comparative financial statements that include both the current year and the previous year. The IRS (Internal Revenue Service) does not have specific requirements for comparative financial statements. The IIA (Institute of Internal Auditors) and GAAS (Generally Accepted Auditing Standards) do not have any authority over financial statement presentation.

Which of the Following Authorities Require That Companies Present Comparative