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:

Business Audiences

Groups of individuals in a professional setting who are the intended recipients of a particular message or information.

Complex Sentences

Sentences that contain one independent clause and at least one dependent clause, used to express detailed or nuanced ideas.

Long

Descriptive of something with a great length or duration, extending far from end to end.

Dangling Modifier

A word or phrase that modifies a word not clearly stated in the sentence, often leading to confusing and grammatically incorrect sentences.