about financial accounting questions

2007-08-07 9:34 pm
請教會計達人,我不是很確定我的答案,可否能請教指正~謝謝!
1.Generally accepted accounting principles, or GAAP, are the rules and procedures established by the Financial Accounting Standards Board, or the FASB.
a. true b. false
2.GAAP requires that companies use the same depreciation method for financial reporting purposes that they use for income tax purposes.
a. true b. false
3.LIFO generally results in a lower tax liability in a period of rising prices.
a. true b. false

回答 (1)

2007-08-07 11:11 pm
✔ 最佳答案
a. True
b. False...the companies can choose the method of depreciation which they want but cannot change. if the company change the method, it need to explain
C. yes....that is why some countries cannot allow the company uses LIFO, such as canada


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