Regulatory Agencies and Commissions Perform

question 46

Multiple Choice

Regulatory agencies and commissions perform

• A) only executive functions.
• B) only legislative functions.
• C) only judicial functions.
• D) some functions of all branches of government-legislative, executive, and judicial.
• E) private corporate functions.

---

Definitions:

Accounting Principles

Fundamental guidelines or rules that govern the financial reporting process, ensuring the consistency, reliability, and comparability of financial statements.

Auditing Procedures

The methods and tests auditors use to gather evidence and evaluate the validity of a company's financial statements.

Ethics

A set of moral principles that guide the behavior of individuals and organizations, ensuring actions align with societal, professional, and individual standards of conduct.

Standards Of Conduct

Guidelines or rules designed to direct the behavior and decision-making of members within an organization or profession.