Generally accepted accounting principles.

a. are accounting rules formulated by the Internal Revenue Service.
b. are sound in theory but rarely used in real life.
c. have eliminated all errors in accounting.
d. are accounting rules that are recognized as a general guide for financial reporting.

d. are accounting rules that are recognized as a general guide for financial reporting.

Explanation:

Generally accepted accounting principles are rules and standards, which are commonly used in the Financial reporting. It provides the guidance for difference accounting and reporting issues. These are published By Financial Accounting Standards Board (FASB). There is no assurance that all accounting errors in accounting have been eliminated, These standards provide the best possible solution for accounting events.

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation: