Advertisements
Advertisements
प्रश्न
What does GAAP stand for in Accounting?
What does GAAP stand for?
Advertisements
उत्तर
"General Accepted Accounting Principles" is what GAAP stands for to promote consistency in the accounting process, these guidelines provide standards and regulate accounting terms, presumptions, and procedures.
APPEARS IN
संबंधित प्रश्न
Justify the following:
Every transaction is recorded in at least three accounts.
GAAP stands for ______.
______ is the language of business.
According to this principle, revenue is deemed to be realised when the goods have been transferred or the services have been rendered to a customer.
“Every transaction has two effects.” (with reference to the concept of Accounting). Give a reason either for or against.
Explain Matching Concept of GAAP.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain matching principle of accounting.
Explain the Dual Aspect Principle.
Explain the complete disclosure principle.
