Which of the Following Has Primary Responsibility to Develop Generally

question 86

Multiple Choice

Which of the following has primary responsibility to develop Generally Accepted Accounting Principles?

• A) Financial Accounting Standards Board.
• B) Company Executives.
• C)Securities & Exchange Commission.
• D)Public Company Accounting Oversight BoarD.The Securities and Exchange Commission has charged the Financial Accounting Standards Board with developing Generally Accepted Accounting Principles.

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Definitions:

Group Attractiveness

The appeal of a group to its members, which can influence cohesion, the desire to join or remain part of the group, and member satisfaction.

Competition For Membership

Describes a situation where individuals or entities compete to gain entry or acceptance into an exclusive or desirable group or organization.

Degrees Of Acceptability

The range of conditions or outcomes that are considered acceptable or satisfactory by stakeholders, often used in the context of quality, risk, or ethical standards.

Formal Group

A group formed by an organization to achieve specific goals, characterized by structured and systematic workflows.