Which of the Following Groups Does Not Issue Rules That

question 28

Multiple Choice

Which of the following groups does not issue rules that apply to accounting for income taxes?

• A)FASB.
• B)SEC.
• C)EITF.
• D)IRS.

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Definitions:

Joint Tenant

An individual co-holder of a property title under the right of survivorship, meaning the property passes to the surviving holders upon one's death.

Life Insurance Policy

A contract with an insurer that pays a designated beneficiary a sum of money upon the death of the insured person.

Certificate of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate, issued by banks to depositors.

United Way

A nonprofit organization that works worldwide, helping communities by funding partner organizations to support various social causes.