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22 April, 08:40

Which practice is in accordance with US GAAP? A. A company values assets at their market value. B. A company recognizes expenses when they incur them. C. The monetary unit principle takes inflation into account. D. The accounting period of a business keeps changing. E. Businesses and owners are legally dependent.

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  1. 22 April, 08:51
    0
    The correct answer is choice B.

    Choice B, a company recognizes expenses when they incur them, is the only choice which is in accordance with US Generally Accepted Accounting Principals. All of the other options are against GAAP.
  2. 22 April, 08:56
    0
    The correct answer is : B
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Home » Business » Which practice is in accordance with US GAAP? A. A company values assets at their market value. B. A company recognizes expenses when they incur them. C. The monetary unit principle takes inflation into account. D.
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