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Accounting for Non-Accounting Majors1 Explain what

Accounting for Non-Accounting Majors1 Explain what is meant by Generally Accepted Accounting Principles (GAAP)2 What is the FASB, and what does this organization do?3 What is the SEC, and what does this organization do?4 In light of the ongoing economic crisis, do you think these organizations are doing a good job? Why or why not?

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