The Has Ultimate Responsibility for Specifying Generally Accepted Accounting Principles

question 55

Multiple Choice

The has ultimate responsibility for specifying generally accepted accounting principles for publicly traded companies in the United States.

• A) IASC
• B) FASB
• C) SEC
• D) GAAP

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Definitions:

Developmental Disorders

A group of psychiatric conditions originating in childhood that involve serious impairment in different areas such as speaking, walking, or interacting with others.

Sensorimotor Stage

The first stage of Piaget's theory of cognitive development, occurring from birth to about 2 years of age, where infants learn about the world through their sensory experiences and motor actions.

Substage

denotes a division or phase within a larger developmental stage or process, often characterized by specific milestones or achievements.

Primary Circular Reaction

A repetitive action in infants aimed at experiencing a desired effect, such as sucking or grasping, part of sensorimotor development stages proposed by Piaget.