Which of the Following Statements Is True

question 26

Multiple Choice

Which of the following statements is true?

• A) In order to remain impartial, the FASB discourages public input during development of standards.
• B) FASB accounting standards are the result of clearly defined objectives, an integrated body of theory, and the known consequences of actions.
• C) The FASB deliberates and issues accounting standards only after receiving a formal letter of request from the SEC.
• D) Accounting standards, which have economic and political consequences, are often the result of compromise.

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Definitions:

Nonsexist Language

Language that treats both sexes neutrally, that does not make assumptions about the proper gender for a job, and that does not imply that one sex is superior to or takes precedence over the other.

Tone

The general character or attitude of a place, piece of writing, situation, etc., often conveying a specific emotion or mood.

Unity

Using only one idea or topic in a paragraph or other piece of writing.

Transitional Words

Words or phrases used to link ideas, sentences, or paragraphs, helping to create a smooth flow in writing or speech.