The Independent Group That Is Attempting to Harmonize Accounting Practices

question 74

Multiple Choice

The independent group that is attempting to harmonize accounting practices of different countries is the:

• A)AICPA.
• B)IASB.
• C)CAP.
• D)SEC.
• E)FASB.

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Definitions:

Cashier's Check

A cashier's check is a check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.

Drawer

The person or entity that issues or writes a check or draft, instructing their bank to pay the stated amount to the party named on the document.

Drawee

The party, usually a bank, that is directed to pay a certain amount of money from a person's account as stated in a check or draft.

Altered Check

A cheque that has been modified in a material way (e.g., changing the amount or payee) without the authorization of the issuer.