While Formally the SEC Is Charged with the Responsibility for Establishing

question 36

Multiple Choice

While formally the SEC is charged with the responsibility for establishing accounting principles to be followed in the preparation of SEC filings, the impact of the SEC generally has been

• A) in its assistance to Congress with the development of tax law.
• B) in guiding the development of stock exchanges.
• C) ineffective in controlling foreign corporations and investors.
• D) in its informal review and approval of standards developed in the private sector prior to their release.

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Definitions:

Shopping Products

Goods that consumers purchase after comparing quality, price, and style from various sellers, spending considerable time and effort to make the best decision.

Business Products

Goods or services that are sold to other businesses for further production, use in operations, or resale.

Convenience Products

Consumer goods or services that are widely available and can be purchased with minimal effort.

Shopping Product

Item typically purchased only after the buyer has compared competing products in competing stores.