Post Utme Uniport 2021 Commerce Question 30

Practice objective / multiple choice question 30 from the 2021 Post Utme Uniport Commerce examination.

Post Utme Uniport 2021 Commerce Objective / Multiple Choice
Question 30 POST_UTME_UNIPORT • 2021 • COMMERCE • objective

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

Answer Options

A. It provides a common language for financial reporting
B. It allows for easy comparison of financial statements
Correct Answer C. It provides a framework for financial statement preparation
D. It reduces the risk of financial misstatement
Correct Answer
C
Correct Option:
It provides a framework for financial statement preparation

About This Question

This is Post Utme Uniport 2021 Commerce Question 30. It is one of the objective questions from the 2021 Post Utme Uniport Commerce examination.

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