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What is GAAP?

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What is GAAP?

Posted by Chandray Majhi 5 years ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 5 years ago

GAAP stands for Generally Accepted Accounting Principles. These are some commonly followed practices of accounting that have found some level of global acceptance. These accounting principles specify certain definitions, the accounting treatment for confusing entries, and even some industry-specific rules and procedures.

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This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

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Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
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