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

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Business

Nitro

4 March, 07:24

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

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Charlotte · Answer 1

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.