Author Question: Generally accepted accounting principles (GAAP) ________. A) are a set of rules that a U.S. ... (Read 198 times)

sdfghj · **on:** Jul 5, 2018

Generally accepted accounting principles (GAAP) ________.

A) are a set of rules that a U.S. company must follow when preparing its financial statements
B) are accounting rules determined by the IRS
C) are accounting rules required by the U.S. government for all businesses to follow
D) are issued by the International Accounting Standards Board

Question 2

A situation in which a particular supplier provides more than one type of inventory item to a firm and a particular type of inventory item is acquired from more than a single supplier is called a(n):
a. one-to-one relationship
b. one-to-many relationship
c. many-to-many relationship
d. entity relationship