Answer:
All of the choices are correct.
Explanation:
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).
GAAP includes each of the following pronouncements:
Statements of Financial Accounting Standards, Accounting Research Bulletins, Accounting Principles Board Opinions.
For external reporting purposes, United States of America, Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.
United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).
When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).
The answer is A because with a sole proprietorship you can have many partners each contributing small amounts of money, that would add up to a larger amount. :)
The supply of loan able funds, increases the interest rate, and discourages both consumption and investment. This process is called the <u>Interest Rate Effect</u>
Explanation:
The impact of a rise in the cost of borrowing on production costs due to price inflation within an economy.
The interest rate effect reflects the fact that most consumers and business finance managers will cut back on their borrowing activities when interest rates increase.
