Post Utme Igbinedion University 2017 Commerce Question 43

Practice objective / multiple choice question 43 from the 2017 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2017 Commerce Objective / Multiple Choice
Question 43 POST_UTME_IGBINEDION_UNIVERSITY • 2017 • COMMERCE • objective

A company's financial statements are prepared in accordance with the Generally Accepted Accounting Principles (GAAP). Which of the following is a benefit of using GAAP?

Answer Options

A. GAAP provides a framework for financial reporting.
Correct Answer B. GAAP provides a basis for comparison with other companies.
C. GAAP provides a basis for tax purposes.
D. GAAP provides a basis for investment decisions.
Correct Answer
B
Correct Option:
GAAP provides a basis for comparison with other companies.

About This Question

This is Post Utme Igbinedion University 2017 Commerce Question 43. It is one of the objective questions from the 2017 Post Utme Igbinedion University Commerce examination.

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