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Why does GAAP allow for unclear financial statements?
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44 votes
Why does GAAP allow for unclear financial statements?

User Austin Marshall
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12 votes

Answer:

GAAP in accounting helps businesses: Generally accepted accounting principles ensure businesses use a standard method to report financial information. Think of these principles as a rulebook that companies follow when creating financial statements (income statement, balance sheet, and cash flow statement).

Step-by-step explanation:

User Osman M Elsayed
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