hich of the following is most associated with financial accounting reports? a.can be prepared periodically, or as needed b.can be prepared for the entity or segment c.prepared in accordance with GAAP d.can have both objective and subjective information

According to the scenario, the most appropriate answer is option (C) because GAAP is directly related to financial accounting to give clarity and consistency.

GAAP is generally a short term for general acceptable accounting principles.

While the other options are not correct because of the following reasons:

• Option (A) is not correct because this term is not associated with financial accounting.

• Option (B) is not correct because this term also not associate with the term financial accounting

• Option (D) is not correct because this term also not that appropriate for the financial accounting

Officialalehpeter Officialalehpeter · Answer 2 · 2020-01-30T09:04:22+01:00

Answer:

c.prepared in accordance with Generally Acceptable Accounting Principles

Explanation:

Generally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). Public companies in the United States must follow GAAP when their accountants compile their financial statements.

Examples include entity concept, prudency, materiality concept, value for money measurement, going concern concept, e.t.c