Accountants often refer to GAAP. What do the letters GAAP represent in accounting?
Added by Glen D.
Close
Step 1
Step 1: GAAP stands for Generally Accepted Accounting Principles. Show more…
Show all steps
Your feedback will help us improve your experience
Sri K and 87 other Principles of Accounting educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Recommended Videos
The Financial Accounting Standards Board issues GAAP which prescribe the form, content and measurements of financial statements for external reporting. GAAP is an acronym which means: Group of answer choices Guaranteed Accounting Association Practices. Generally Accepted Accounting Practices. Good And Accepted Protocols. Generally Accepted Accounting Principles.
Sri K.
Nick J.
Aparna S.
Recommended Textbooks
Horngren’s Cost Accounting
Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD