WALL STREET PREP ACCOUNTING QUESTIONS WITH CORRECT ANSWERS
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WALL STREET PREP ACCOUNTING QUESTIONS WITH CORRECT ANSWERS What is accounting? {{Correct Ans- Standard way of reporting a business' performance Generally accepted accounting principles (GAAP) {{Co ... rrect Ans- A standardized set of rules for company repoprting Who governs the FASB (Financial Accounting standards board) {{Correct Ans- Securities and Exchange Commission (SEC) What is SFAS? {{Correct Ans- Statements of financial accounting standards How are FASB and SFAS connected? {{Correct Ans- FASB communicates rules through SFAS which makes GAAP [Show More]
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