Question

Give a brief account of the structure of GAAP​

Answer 1

Answer:

Certain fundamental assumptions, basic concepts or principles and conventions form the structure of generally accepted accounting principles. A convention is sometimes referred to as modifying principle. These conventions determine the rules and set the boundaries of the accounting practices.

Explanation:

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Answer 2

Answer:

Certain fundamental assumptions, basic concepts or principles and conventions form the structure of generally accepted accounting principles. A convention is sometimes referred to as modifying principle. These conventions determine the rules and set the boundaries of the accounting practices.

Explanation:

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