Question

Generally Accepted Accounting Principles (GAAP) are not routinely used in health care organizations. Group of answer choices True False

Answer 1

Answer:

False

Explanation:

Generally Accepted Accounting Principles (GAAP) standards are used by health care organizations, specially large health care corporations since the Securities and Exchange Commissions (SEC) requires that all publicly traded corporations must follow GAAP standards. Even public hospitals use their own modified version of GAAP, which has been adapted to them specifically.