Generally Accepted Accounting Principles (GAAP) are currently formulated by the

a. Financial Accounting Standards Board (FASB)
b. Securities and Exchange Commission (SEC)
c. Institute of Management Accountants (IMA)
d. American Institute of Certified Public Accountants

Ans: a. Financial Accounting Standards Board (FASB)

Business

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Nordstrom encourages their employees to improvise to deliver superior customer service in changing conditions and to use good judgment. Nordstrom has chosen a

A) low degree of formalization. B) high degree of formalization. C) small span of control. D) large span of control.

Business

Businesses who have several bank accounts, petty cash, and cash on hand, would maintain a separate ledger account for each type of cash

Indicate whether the statement is true or false

Business