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Which of the following best describes the primary purpose of Generally Accepted Accounting Principles (GAAP)?a)To reduce the cost of preparing financial statementsb)To ensure uniformity and comparability in financial reportingc)To help companies increase their profitabilityd)To assist in the auditing processCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Which of the following best describes the primary purpose of Generally Accepted Accounting Principles (GAAP)?a)To reduce the cost of preparing financial statementsb)To ensure uniformity and comparability in financial reportingc)To help companies increase their profitabilityd)To assist in the auditing processCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following best describes the primary purpose of Generally Accepted Accounting Principles (GAAP)?a)To reduce the cost of preparing financial statementsb)To ensure uniformity and comparability in financial reportingc)To help companies increase their profitabilityd)To assist in the auditing processCorrect answer is option 'B'. Can you explain this answer?.

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