Which of the Following Bodies Formulates the Generally Accepted Accounting

question 34

Multiple Choice

Which of the following bodies formulates the generally accepted accounting principles (GAAP) ?

• A) Accounting Disclosure Board
• B) Financial Accounting Standards Board
• C) Association of Certified Fraud Examiners
• D) Securities and Exchange Commission
• E) American Institute of Certified Public Accountants

---

Definitions:

Civil Disputes

Conflicts between individuals, corporations, or government bodies resolved through the civil justice system, rather than criminal proceedings.

Not Guilty

A legal verdict indicating that the prosecution has not proved beyond a reasonable doubt that the accused committed the crime.

Criminal Matter

A legal case or issue involving actions that are against the law and subject to prosecution and punishment.

Sued Civilly

The process of taking legal action against an individual or entity in civil court, usually for compensation for damages or injuries.