GAAP "rules" govern how transactions are
A)valued.
B)recorded.
C)presented.
D)valued,recorded,and presented.

Name: GAAP "rules" govern how transactions are A)valued. B)recorded. C)presented. D)valued,recorded,and presented.
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Question

Quizplus · Accepted Answer

GAAP, or Generally Accepted Accounting Principles, provides guidelines for how transactions should be valued, recorded, and presented in financial statements. Therefore, the best choice is D as all three options mentioned are covered under GAAP "rules."

GAAP "Rules" Govern How Transactions Are