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1 year ago

The body of rules and procedures that guide the measurement and communication of financial accounting information is known as?

1 answer:

3 0

Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.

We are required to give the name of the body that guide the measurement and communication of financial accounting information.

The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.

Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.

Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Learn more GAAP at brainly.com/question/17895474

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Best Deals, Inc. has 10 units in ending merchandise inventory on December 31. The units were purchased in November for $160 each

MrMuchimi

Answer:

$1,600

Explanation:

Best deals incorporation has a total of 10 units in the ending merchandise inventory on December 31

The units were bought in the month of November at a price of $160 for each unit

The replacement cost of the item is $162

Inventory is always recorded when the cost is low

Therefore, the amount that is to be reported as the merchandise inventory can be calculated as follows

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Hence the amount reported as the merchandise inventory on the balance sheet is $1,600

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3 years ago

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Answer:

The correct answer is a. production points outside the production possibility frontier are unattainable

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Roth IRA account

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