Practice Quiz

Forensic Accounting

Category - Specialized Forensic Knowledge

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Which of the following is the generally accepted accounting standard prevalent in the U.S.?
  1. GAAP
  2. IRS
  3. IFRS
  4. All of the above
Explanation
Answer: D - GAAP and IFRS are both applicable standards practitioners in the U.S. are in accordance with. These provide the fundamental aspects of all the accounting standards and principles.
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