Explain about financial accounting standards, Financial Accounting

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Q. Explain about Financial Accounting Standards?

Financial Accounting Standards - Official promulgations, also called STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS, by FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) which are part of GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) in the U.S.

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FNSD, Example of FNSD Inventory

Example of FNSD Inventory

Journalize, wrote check to purchase law books for 2500 what 2 accounts

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