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.
1. : the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results; also: the principles and procedures of accounting. 2. a: work done in accounting or by accountants b: an instance of applied accounting or of the settling or presenting of accounts.