The Largest Organization of Professional Accountants in the United States

question 42

Multiple Choice

The largest organization of professional accountants in the United States is the:

• A)American Institute of Certified Public Accountants.
• B)Securities and Exchange Commission.
• C)Auditing Standards Board.
• D)Financial Accounting Standards Board.

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Definitions:

Common Stock

A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's profits or losses.

Dividend Payments

Cash payments made by a company to its shareholders, usually derived from the company's profits.

Financing Activities

Transactions related to raising capital, repaying investors, and restructuring company debt within a business's cash flow statement.

Long-Term Debt

Borrowed money that is due for repayment more than one year into the future.