GAAP include which of the following pronouncements:

a. Statements of Financial Accounting Standards
b. Accounting Research Bulletins
c. Accounting Principles Board Opinions
d. All of the above

Ans: d. All of the above

Business

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The present value of $400 to be received at the end of 10 years, if the discount rate is 5%, is

A) $400.00. B) $248.40. C) $313.60. D) $245.60.

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