The initials GAAP stand for a. General Accounting Procedures b. ...

[charchew]

The initials GAAP stand for
 a. General Accounting Procedures
  b. Generally Accepted Plans
  c. Generally Accepted Accounting Principles
  d. Generally Accepted Accounting Practices

Question 2

Which of the following is true?
 
  A. A government is required to record each major general government capital project in a separate Capital Projects Fund.
  B. Acquisition or construction of general government capital assets must always be accounted for through a Capital Projects Fund.
  C. A Capital Projects Fund is not required unless a project is financed by issuing bonds.
  D. A Capital Projects Fund may be used to acquire vehicles and equipment.

[cici]

Answer to Question 1

c

Answer to Question 2

D

[charchew]

Thanks for the timely response, appreciate it

[FergA]

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