Which of the following is not true of generally accepted accounting principles?
(A) GAAP does not have substantial authoritative support.
(B) GAAP is influenced by pronouncements of the SEC and IRS.
(C) GAAP includes detailed practices and procedures as well as broad guidelines of general application.
(D) GAAP changes over time as the nature of the business environment changes.
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Home » Business » Which of the following is not true of generally accepted accounting principles? (A) GAAP does not have substantial authoritative support. (B) GAAP is influenced by pronouncements of the SEC and IRS.