Post Utme Delsu 2020 Commerce Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Delsu Commerce examination.

Post Utme Delsu 2020 Commerce Objective / Multiple Choice

Question 23 POST_UTME_DELSU • 2020 • COMMERCE • objective

A company's financial statements are prepared in accordance with the Generally Accepted Accounting Principles (GAAP). What is the primary purpose of GAAP?

Correct Answer A. To provide a framework for financial reporting

B. To ensure compliance with tax laws

C. To provide a basis for auditing financial statements

D. To provide a basis for financial analysis

Correct Answer

Correct Option:

To provide a framework for financial reporting

This is Post Utme Delsu 2020 Commerce Question 23. It is one of the objective questions from the 2020 Post Utme Delsu Commerce examination.

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