> > >

Financial Accounting MCQs

Choose the correct statement about GAAP.

Firms may not restate financial statements previously issued.

GAAP are laws.

It is a violation of SEC regulations for publicly traded companies to depart from GAAP.

Only publicly traded companies must comply with GAAP.

Answer

Correct Answer: It is a violation of SEC regulations for publicly traded companies to depart from GAAP.

Explanation:

Note: This Question is unanswered, help us to find answer for this one

Financial Accounting Skill Assessment

Your Skill Level: Poor

Retake Quizzes to improve it