[Answered] The set of rules that a U.S. company must follow when preparing its financial statements is called ...

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bb

Hero Member
Posts: 544

on: Jul 5, 2018

The set of rules that a U.S. company must follow when preparing its financial statements is called ________.

A) AICPA
B) FASB
C) GAAP
D) SOX

Question 2

When companies use a perpetual inventory system, the recording of the purchase of inventory will include a debit to Purchases.
a. True
b. False

Indicate whether the statement is true or false

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Marked as best answer by a Subject Expert

ms_sulzle

Sr. Member
Posts: 320

Reply #1 on: Jul 5, 2018

Answer to Question 1

C

Answer to Question 2

False

bb

Member
Posts: 544

Reply 2 on: Jul 5, 2018

TYSM

jordangronback

Member
Posts: 339

Reply 3 on: Yesterday

Great answer, keep it coming

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