Post Utme Skyline University 2022 Accounting Question 38

Practice objective / multiple choice question 38 from the 2022 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2022 Accounting Objective / Multiple Choice

Question 38 POST_UTME_SKYLINE_UNIVERSITY • 2022 • ACCOUNTING • objective

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

Answer Options

Correct Answer A. GAAP requires the use of accrual accounting

B. GAAP requires the use of cash accounting

C. GAAP requires the use of modified cash accounting

D. GAAP requires the use of special purpose financial statements

Correct Answer

Correct Option:

GAAP requires the use of accrual accounting

About This Question

This is Post Utme Skyline University 2022 Accounting Question 38. It is one of the objective questions from the 2022 Post Utme Skyline University Accounting examination.

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