Public owned companies are bound to the generally accepted accounting principles.
Who are the shareholders in a public company?
A public company's ownership is distributed among general public shareholders thru the free trade of stock shares on stock exchanges or over-the-counter (OTC) markets.
A public company is one that has sold all or part of its stock to the public through an initial public offering. The capacity of public companies to tap the financial markets by selling stock (equity) or bonds (debt) to raise capital (i.e., cash) for expansion and other projects is their primary advantage.
Learn more about accounting principles from the given link.
https://brainly.com/question/16874947
#SPJ4
