Questions: What are Generally Accepted Accounting Principles? Regulations designed to promote strong ethical conduct. Regulations companies must follow in order to be publicly traded. Minimum requirements for becoming a CPA. The concepts and rules that govern financial accounting practice.

The answer is the fourth one: the concepts and rules that govern financial accounting practice.

Explanation for each option:

1. Regulations designed to promote strong ethical conduct: This is incorrect. While ethical conduct is important in accounting, Generally Accepted Accounting Principles (GAAP) specifically refer to the rules and standards for financial accounting, not ethical guidelines.
2. Regulations companies must follow in order to be publicly traded: This is incorrect. While publicly traded companies must follow GAAP, GAAP itself is not limited to just these companies. It applies to all entities that prepare financial statements.
3. Minimum requirements for becoming a CPA: This is incorrect. Becoming a Certified Public Accountant (CPA) involves meeting educational and experience requirements and passing the CPA exam, which includes knowledge of GAAP, but GAAP itself is not the minimum requirement for becoming a CPA.
4. The concepts and rules that govern financial accounting practice: This is correct. GAAP encompasses the principles, standards, and procedures that companies use to compile their financial statements, ensuring consistency, reliability, and comparability of financial information.

Summary: Generally Accepted Accounting Principles (GAAP) are the concepts and rules that govern financial accounting practice.