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    5. Which type of accounting uses Generally Accepted Accounting Principles (GAAP) to ensure consistency

    Question

    Which type of accounting uses Generally Accepted

    Accounting Principles (GAAP) to ensure consistency and accuracy in reporting financial information?
    A Financial Accounting Correct Answer Incorrect Answer
    B Managerial Accounting Correct Answer Incorrect Answer
    C Tax Accounting Correct Answer Incorrect Answer
    D Cost Accounting Correct Answer Incorrect Answer

    Solution

    Financial Accounting uses GAAP to ensure consistency and accuracy in reporting financial information.

    Practice Next
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    Relevant for Exams:

    • UPSC EO/AO

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