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Generally Accepted Accounting Principles (GAAP) MCQs

What is the purpose of stipulating exactly how earnings per share is calculated?

It creates a level playing field for comparing all companies who adhere to the same guidelines.

It forces the management to think about their earnings.

It drives companies to higher profit levels.

It generates more tax income for the government.

Answer

Correct Answer: It creates a level playing field for comparing all companies who adhere to the same guidelines.

Explanation:

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