Generally accepted accounting principles (GAAP) refers toA. the extent to which

Generally accepted accounting principles (GAAP) refers toA. the extent to which something can be sold for cash quickly andeasily without loss of value.B. the length of an assets life when it is issued.C. a technical accounting term that encompasses the conventionsrules and procedures necessary to define accepted accountingpractice at a particular time.D. a report issued annually by a firm that includes at a minimuman income statement a balance sheet a statement of cash flowsand accompanying notes.