Basic Concepts
To achieve basic objectives and implement fundamental qualities GAAP has four basic assumptions, four basic principles, and four basic constraints.
Read more about this topic: Generally Accepted Accounting Principles (United States)
Famous quotes containing the words basic and/or concepts:
“Of course I lie to people. But I lie altruistically—for our mutual good. The lie is the basic building block of good manners. That may seem mildly shocking to a moralist—but then what isn’t?”
—Quentin Crisp (b. 1908)
“Germany collapsed as a result of having engaged in a struggle for empire with the concepts of provincial politics.”
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