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Disclosed Basis of Accounting Assignment

Author:
February 19th, 2020

Which of the following statement(s) is(are) correct?

1. Both “companies that use the disclosed basis of accounting are NOT allowed to use differential reporting” and “when used, the disclosed basis of accounting must comply with GAAP” are correct.

2. Companies that use the disclosed basis of accounting are NOT allowed to use differential reporting.

3. When used, the disclosed basis of accounting must comply with GAAP.

4. Companies that use the disclosed basis of accounting are in effect using differential reporting. Get Finance homework help today

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