Question

The field of accounting that reports according to generally accepted accounting principles (GAAP) is called:cost accounting.financial accounting.managerial accounting.responsibility accounting

Answer 1

Answer:

Financial accounting

Explanation:

The Generally accepted accounting principle (GAAP) is the standard, principles and  procedures that accountant must follow or adhere to when compiling financial statements. The major objective of GAAP is to make the accounting process uniform so financial reports are comparable from one company to another.