Generally Accepted Accounting Principles(G.A.A.P.).Briefly discussGenerally Acce

Generally Accepted Accounting Principles(G.A.A.P.).Briefly discussGenerally Accepted Accounting Principles or G.A.A.P. What are they?What is their purpose? Name the U.S. and internationalstandard-setting bodies that established these principles. Are allcompanies required to follow these principles? Why or why not?