What does GRAS mean in Accounting?

This page is about the meanings of the acronym/abbreviation/shorthand GRAS in the Business field in general and in the Accounting terminology in particular.

Government Receipt Accounting System

Business » Accounting
Governmental

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Submitted by S4Bot on August 6, 2017

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Definition

What does GRAS mean?

gras
Generally recognized as safe (GRAS) is a United States Food and Drug Administration (FDA) designation that a chemical or substance added to food is considered safe by experts under the conditions of its intended use. An ingredient with a GRAS designation is exempted from the usual Federal Food, Drug, and Cosmetic Act (FFDCA) food additive tolerance requirements. The concept of food additives being "generally recognized as safe" was first described in the Food Additives Amendment of 1958, and all additives introduced after this time had to be evaluated by new standards. The FDA list of GRAS notices is updated approximately each month, as of 2021.

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"GRAS." Abbreviations.com. STANDS4 LLC, 2024. Web. 12 Apr. 2024. <https://www.abbreviations.com/term/1927251>.

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