Solution-Discuss generally accepted accounting principles

Discuss generally accepted accounting principles

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Question 1: Discuss "generally accepted accounting principles," or GAAP. How do Accounting principles become "generally accepted," and how are accountants made aware of these principles? What are the negative consequences, if any, that an account can expect who fails to follow GAAP?

Reference no: EM132471109

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Discuss generally accepted accounting principles

Reference no: EM132471109

Reference no: EM132471109

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