Question

Generally accepted accounting principles​ (gaap) that govern the content and form of financial reports are established by the​ _______.

Answer 1

Generally accepted accounting principles​ (GAAP) that govern the content and form of financial reports are established by the​ federal government. The federal government placed these principles on companies to make sure all accounting documents are done correctly and streamline. The easiest way to  make sure all documents are the same across the board is to put regulations on how they must me submitted.