Friday, May 28, 2010

Chapter 7 Questions : What are generally accepted accounting principles (GAAP)?

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Chapter 7 Questions


1. (a) What are generally accepted accounting principles (GAAP)? (b) What bodies provide authoritative support for GAAP?

2. What elements comprise the FASB’s conceptual framework?

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