accounting finalGAAP refers to guidelines for accounting information in the United States. The acronym GAAP in this statement refers to​ ________.

The Sarbanes minus −Oxley Act​ (SOX) ________. A. requires companies to take responsibility for the accuracy and completeness of their financial reportsWhich of the following is the correct accounting​ equation? A. Assets​ + Revenues​ = Equity B. Assets​ + Revenues​ = Liabilities​ + Expenses C. Assets​ = Liabilities​ + Equity This is the correct answer. D. Assets​ + Liabilities​ = Equity . B. requires independent accountants to take responsibility for the accuracy and completeness of the financial reports C. created the SEC D. ensures that financial scandals will no longer occur

A. requires companies to take responsibility for the accuracy and completeness of their financial reports

Which of the following​ statements, regarding International Financial Reporting Standards​ (IFRS), is​ correct? A. International Financial Reporting Standards are issued by the Financial Accounting Standards Board. B. Companies who are incorporated in or do significant business in another country might be required to publish financial statements using International Financial Reporting Standards. .C. International Financial Reporting Standards represent a set of global accounting standards that are generally more specific and based less on principle than U.S. Generally Accepted Accounting Principles. D. The Securities and Exchange Commission is the private organization that oversees the creation and governance of International Financial Reporting Standards.

C. Companies who are incorporated in or do significant business in another country might be required to publish financial statements using International Financial Reporting Standards.

According to the​ ________, acquired assets should be recorded at the amount actually paid rather than at the estimated market value. A. economic entity concept B. going concern assumption C. monetary unit assumption D. cost principle.

D. cost principle

GAAP refers to guidelines for accounting information in the United States. The acronym GAAP in this statement refers to​ ________. A. Government Approved Accounting Principles B. Generally Accepted Accounting Principles C. Globally Accepted Accounting Policies D. Generally Accredited Accounting Policies

Generally Accepted Accounting Principles