posted by .

I have been asked "Determining whether amounts are in conformity with GAAP addresses the proper measurements of assets, liabilities, revenues, and expenses which includes all of the following except:
a. the reasonableness of management's accounting principles.
b. proper application of valuation principles such as cost, net reliable value, market value, and present value.
c. consistency in the application of accounting principles.
d. the reasonableness of management's accounting policies.
e. proper application of the matching principles.

My text does not explain this, but I am guessing that the answer is b. Am I right? If not can you help me figure this out please?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting

    How can I calculate the net income if I only know the assets total and liabilities total from both the beginning of the year and the end of th eyear?
  2. Finance/Accounting

    I'm not sure how to work this oroblem. Can someone assist me. revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock …
  3. Math (Finance)

    What are generally accepted accounting principles (GAAP)?
  4. principles accounting

    1)The objectivity principle? Means that information is supported by independent, unbiased evidence. Means that information can be based on what the preparer thinks is true. Means that financial statements should contain information
  5. financial

    Are these correct? 1. Agency theory examines the relationship between the?
  6. college- accounting

    We just starting the chapters in accounting in school. We have about 10 problems to do. I will post one problem here and i need someone to show me how exactly they got it, so i understand and it could help me work on the other 9. here …
  7. accounting

    :The balance sheet for Glenwood Corporation at December 31, 2011, showed the following subtotals: Current Assets $140,000 Current Liabilities 80,000 Property & Equipment 420,000 Total Stockholders' Equity 420,000 Retained Earnings …
  8. Accounting

    What is "loss of lawsuit" categorized as?
  9. accounting

    Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees $140,000 …
  10. accounting 100

    Moteki Company accumulates the following adjustment data at December 31 Indicate the type of adjustment (prepaid expenses, accrued revenues and so on), and the status of accounts before adjustment (overstated or understated). (Enter …

More Similar Questions