The SEC Has Usually Restricted Its Role in Establishing Accounting

question 39

Multiple Choice

The SEC has usually restricted its role in establishing accounting principles to:

• A) Specifying the information that should be included in interim financial statements.
• B) Developing definitions of key accounting terms.
• C) Developing accounting standards for particular industries.
• D) Determining required disclosures.
• E) The promulgation and issuance of SASs (Securities Accounting Standards).