Which of the following refers to the rules and procedures governing the content and form of financial reports?
A) National bookkeeping standards
B) Core competencies for accounting
C) Accounting and financial rules
D) National guidelines of accounting principles
E) Generally accepted accounting principles

Question

Quizplus · Accepted Answer

Generally accepted accounting principles (GAAP) refer to the rules and procedures governing the content and form of financial reports. The other options either do not exist or are not widely recognized as the term GAAP.

Which of the Following Refers to the Rules and Procedures