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GAAP is comprised of:________
a. FASB standards, interpretations, and concepts statements.
b. FASB fi nancial standards.
c. FASB standards, interpretations, EITF consensuses, and accounting rules issued by FASB predecessor organizations.
d. any accounting guidance included in the FASB Codifi cation.

Answer :

Answer: any accounting guidance included in the FASB Codification

Explanation:

GAAP is an acronym that implies generally accepted accounting principle. They are the rules that are used in accounting to guide businesses and corporate bodies.

It should be noted that the GAAP is used by The Financial Accounting Standards Board as the basis for its practices. Therefore, GAAP comprises of any accounting guidance included in the FASB Codification.

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