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Which of the following statements is incorrect? Question 2 options:
Annual statements submitted to the SEC (10-K) must be prepared using GAAP.
Under GAAP, it is necessary to make certain estimates.
Under GAAP, all assets are marked to market each accounting period.
Under GAAP, statements are prepared using accrual accounting.

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Which of the following statements is incorrect Question 2 o.pdf

  • 1. Which of the following statements is incorrect? Question 2 options: Annual statements submitted to the SEC (10-K) must be prepared using GAAP. Under GAAP, it is necessary to make certain estimates. Under GAAP, all assets are marked to market each accounting period. Under GAAP, statements are prepared using accrual accounting.