All but One of the Following Statements Indicates a Difference

question 66

Multiple Choice

All but one of the following statements indicates a difference between the Financial Accounting Standards Board (FASB) and prior approaches.Select the one that is not a difference.

• A)The FASB is independent of the AICPA.
• B)The size of the board is much smaller.
• C)The FASB has broader representation.
• D)The FASB is the primary board for the development of generally accepted accounting principles.
• E)Members of the FASB serve on a full-time basis.

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Definitions:

Height Of Lettering

The vertical measurement of characters in a piece of text, affecting readability and aesthetic appearance in technical documents or products.

MMC

Maximum Material Condition, a concept in tolerance specifications indicating the limit state where a part contains the maximum amount of material within its tolerance limits.

LMC

Least Material Condition, the condition of a part where it contains the minimum amount of material yet still meets its dimensional specification, often related to tolerances in manufacturing.

RFS

Regardless of Feature Size; a condition where the tolerance or location of part features is not affected by the feature size.