1.

Generally accepted accounting

principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
1. Generally accepted accounting
principles
A. derive their authority from legal
court proceedings.
B. have been specified in detail in
the FRSC Conceptual Framework.
C. are fundamentally truths or
axioms that can be derived from
laws of nature.
D. derived their credibility and
authority from general recognition
and acceptance by the accounting
profession.
Accounting is the process of recording financial transactions pertaining to a business.
The accounting process includes summarizing, analyzing, and reporting these transactions to
oversight agencies, regulators, and tax collection entities.