The correct answer is D. Accounting practices are transparent and consistent.
Explanation:
- GAAP (Generally Accepted Accounting Principles) ensures that financial information is presented in a way that is transparent, consistent, and comparable across different organizations. This consistency and transparency help stakeholders, such as investors, creditors, and regulators, understand and evaluate the financial health of a business.
- While international acceptance (A) is more aligned with International Financial Reporting Standards (IFRS), and other answers may not directly relate to the characteristics of GAAP, consistent and transparent practices are at the core of what GAAP aims to achieve.