Generally Accepted Accounting Principles (GAAP) Are Best Described as A(n)

Generally accepted accounting principles (GAAP) are best described as a(n) :

A) organization that establishes the accounting principles for U.S. financial reporting.
B) accounting standards promulgated by the International Accounting Standards Board (IASB.)
C) set of basic principles and conventions that are applied in the preparation of financial statements.
D) organization that establishes the accounting principles for business entities in the European Economic Community.