Which of the Following Is a Function of the Public

question 42

Multiple Choice

Which of the following is a function of the Public Company Accounting Oversight Board?

• A)It provides relief to banks during financial crisis.
• B)It ensures that accounting firms do not separate their consulting and auditing businesses.
• C)It makes rules and policies for accounting firms and businesses.
• D)It overlooks the accounts department of the federal government.
• E)It certifies individuals to provide accounting services.

---

Definitions:

Functional Currency

The currency of the primary economic environment in which a company operates, used in its financial reporting.

Subsidiary

A company controlled by another company, often referred to as the parent company, through ownership of more than half of its stock.

U.S. Dollar

The official currency of the United States, commonly used worldwide as a standard of exchange.

Functional Currency

The main currency used by a business or unit within a company for accounting purposes, reflecting the primary economic environment in which it operates.