Post Utme Oau 2017 Commerce Question 35

Practice objective / multiple choice question 35 from the 2017 Post Utme Oau Commerce examination.

Post Utme Oau 2017 Commerce Objective / Multiple Choice

Question 35 POST_UTME_OAU • 2017 • 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 the accuracy of financial statements

C. To provide a basis for taxation

D. To facilitate auditing

Correct Answer

Correct Option:

To provide a framework for financial reporting

This is Post Utme Oau 2017 Commerce Question 35. It is one of the objective questions from the 2017 Post Utme Oau Commerce examination.

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