Which of the Following Statements About the Financial Accounting Standards

question 9

Multiple Choice

Which of the following statements about the Financial Accounting Standards Board is correct?

• A)The FASB is an agency of the Federal government.
• B)The FASB has the authority to fine a noncompliant firm.
• C)The FASB follows a due process procedure that permits input from interested parties before an Accounting Standards Update (ASU)is issued.
• D)The FASB is controlled by the American Institute of CPAs.

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Definitions:

Ergonomics

The applied science of being concerned with the nature and characteristics of people as they relate to design and activities with the intention of producing more effective results and greater safety.

Body Mechanics

Principles of posture and movement that are used to prevent injury during physical activity or the handling of heavy objects.

Mobility

The ability to move or be moved freely and easily, often referring to the physical capacity for movement.

Body Mechanics

The use of proper posture and movement in daily activities to prevent injury and maintain health.