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These are used by the FASB, and it is a set of concepts that guide...

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Accounting

These are used by the FASB, and it is a set of concepts that guide financial reporting.
A. Financial Accounting Standards Board (FASB)
B. generally accepted accounting principles (GAAP)
C. Securities and Exchange Commission (SEC)
D. conceptual framework
8.3.1 This is the independent federal agency protecting the interests of investors, regulating stock markets,
and ensuring companies adhere to GAAP requirements.
A. Financial Accounting Standards Board (FASB)
B. generally accepted accounting principles (GAAP)
C. Securities and Exchange Commission (SEC)
D. conceptual framework
9.3.1 Which of the following is the principle that a company must recognize revenue in the period in which
it is earned; it is not considered earned until a product or service has been provided?
A. revenue recognition principle
B. expense recognition (matching) principle
C. cost principle
D. full disclosure principle

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