menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Fundamental Accounting Principles
  4. Exam
    Exam 1: Accounting in Business
  5. Question
    The Underlying Concepts That Make Up Acceptable Accounting Practices Are
Solved

The Underlying Concepts That Make Up Acceptable Accounting Practices Are

Question 48

Question 48

True/False

The underlying concepts that make up acceptable accounting practices are referred to as generally accepted accounting principles (GAAP).

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q43: The internal functions of a business include<br>A)

Q45: The purpose of an audit is to

Q46: Select the appropriate financial statement for each

Q47: Explain why ethics and social responsibility are

Q49: A liability expressed by a written promise

Q50: A partnership<br>A) is also called a sole

Q51: Business events do not affect the accounting

Q52: The balance sheet is also called the

Q53: Prepare a balance sheet in good form

Q174: A balance sheet covers a period of

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines