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GAAP Generally Accepted Accounting Principles

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Please define general accepted accounting principles and discuss in relation to healthcare. No need to describe each principle. Just need a summary of what GAAP is and relate it to health care.

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The solution defines general accepted accounting principles and discuss in relation to healthcare.

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The general accepted accounting principles, or generally accepted accounting principles, are the rules, guidelines, and regulations, that make up the structural framework of the principles and procedures by which accountants record and prepare quality financial statements for organizations, etc. The general ...

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