Why do most companies adhere to GAAP for their basic internal financial statements?
A.
GAAP is required by law forpublicly held companies
B.
To use GAAP and another system ofreporting would be too costly for most companies.
C.
Accountants are required bytheir code of ethics to use GAAP accounting.
D.
Accrual accounting provides auniform method to measure an organization’s financial performance.