GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information. The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information. Topics What's New
The Metric System units are milliliters and liters. When to Use Which Unit. When measuring a small liquid volume, such as a dosage of cough medicine, the best unit to use is milliliters or ounces. A slightly larger volume, like the amount of flour or sugar needed to make cookie dough, would be measured using cups. A liquid volume of this size, like heavy cream, would be measured using pints, milliliters, or liters. The volume of a bigger amount, like a bottle of apple juice or soda pop, can be measured using liters and quarts. A really big liquid volume, like an aquarium or swimming pool, would be measured in gallons or liters.
Measurement in economics. The measures used in economics are physical measures, nominal price value measures and fixed price value measures. These measures differ from one another by the variables they measure and by the variables excluded from measurements. The measurable variables in economics are quantity, quality and distribution.