Unlike Generally Accepted Accounting Principles (GAAP) for accountants, there are not principles, standards, concepts, or values common to business ethics. A. TrueB. False

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Business

Bailey Gentry

29 October, 23:49

Unlike Generally Accepted Accounting Principles (GAAP) for accountants, there are not principles, standards, concepts, or values common to business ethics. A. TrueB. False

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Answers (1)

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Kailey Meza · Answer 1

Unlike Generally Accepted Accounting Principles (GAAP) for accountants, there are not principles, standards, concepts, or values common to business ethics is a FALSE statement.

Explanation:

The GAAP has a wide range of applications owing to the unanimous addition of functions to the discipline of accountancy. Other than GAAP, certain countries and businesses follow the accounting methods given by 'other comprehensive basis of accounting' (OSBOA). Some businesses choose to follow both at once, while the majority choose to follow either of them.