Question
Which of the following is the benefit of using GAAP while preparation of financial statements?
Answer: Option D
:
D
Since GAAP (generally accepted accounting principles) is a collection of commonly followed accounting rules and standards for financial reporting, all of the above are the benefits of using GAAP while preparation of financial statements.
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:
D
Since GAAP (generally accepted accounting principles) is a collection of commonly followed accounting rules and standards for financial reporting, all of the above are the benefits of using GAAP while preparation of financial statements.
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