Question

What do you mean by GAAP​

Answer 1

Answer:

Generally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). ... GAAP aims to improve the clarity, consistency, and comparability of the communication of financial information.

Explanation:

I hope this will help you dear..

Always stay safe and stay healthy..

Answer 2

Generally Accepted Accounting Principles

Generally Accepted Accounting Principles or GAAP are a set of rules that encompasses the details , complexities and legalities of business and corporate accounting . The Financial Accounting Standard Board (FASB) uses GAAP as the foundation for its comprehensive set of approved accounting methods and practics