Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 1 - Financial Accounting and Accounting Standards - Concepts for Analysis - Instructions - Page 27: CA1-12h

Answer

GAAP. Generally accepted accounting principles.

Work Step by Step

This refers to the common set of standards, principles, and procedures which have substantial authoritative support and have been accepted as appropriate because of universal application.
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