Question

What is GAAP and who oversees​ it? ​(Select all the choices that​ apply.) A. GAAP stands for Generally Accepted Accounting Principles. B. GAAP stands for Generally Accepted Accounting Policies. C. GAAP was established by the Financial Accounting Standards Board​ (FASB) and is the format required by the SEC when companies submit their quarterly and annual reports. D. GAAP regulations are enforced by the Internal Revenue Service.

Answer 1

The Answer A lol

Step-by-step explanation:

Answer 2

The answers are,

A. GAAP stands for Generally Accepted Accounting Principles

C. GAAP was established by the Financial Accounting Standards Board​ (FASB) and is the format required by the SEC when companies submit their quarterly and annual reports.

Step-by-step explanation:

GAAP is generally accepted accounting principles and they are the accounting and financial reporting procedures that the companies in USA adapt.

A company is not obliged to adapt these standards but if a company is going public and enlist in the stock market, they must submit their reports according to GAAP to SEC.