The length of validity for U.S. passports depends on the age of the passport holder when the passport was obtained and the type of passport issued.
What are 'Generally Accepted Accounting Principles - GAAP'. Generally accepted accounting principles (GAAP) are a common set of accounting principles, standards and procedures that companies must follow when they compile their financial statements.
These standards are called GAAP or Generally Accepted Accounting Principles. There are a number of different principles that GAAP uses to help maintain a high level of reliance and verifiability in financial reporting. One of these principles is the objectivity principle. The objectivity principle states that financial and accounting information needs to be independent and free from bias. This means that financial reporting like a company's financial statements need to be based on evidence and not opinions.