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3 years ago

For external reporting purposes, U.S. GAAP allows companies to use

Business

1 answer:

Vilka [71]3 years ago

8 0

Answer:

B. only the traditional format of the income statement.

Explanation:

There is only one format under US GAAP, that is the traditional format, the variable costing format or the contribution margin format are all concepts of cost accounting, and not of accounting.

As per US GAAP the books are prepared in traditional format income statement. No other format is followed for reporting and presenting the financial statements of the company.

Therefore, correct option is:

Option B

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3 years ago

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Answer:

MRCORRECT has answered the question

Explanation:

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Vlad1618 [11]

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4 years ago

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2 years ago

Which of the following is an effective strategy for personal saving?

trasher [3.6K]

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2 years ago

For external reporting​ purposes, U.S. GAAP allows companies to use

For external reporting purposes, U.S. GAAP allows companies to use