Which Group Established GAAS

question 26

Multiple Choice

Which group established GAAS?

• A) The American Institute of Certified Public Accountants
• B) The American Institute of Auditors
• C) The Financial Accounting Standards Board
• D) The American Accounting and Auditing Standards Board
• E) The Federal Accounting Standards Board

---

Definitions:

Oil

A natural resource used predominantly as a fuel source and in the production of various chemicals and materials.

Elephant Preservation

The conservation efforts aimed at protecting elephants and their habitats, ensuring their survival against threats such as poaching and habitat destruction.

Property Rights

Legal rights to use, control, and derive benefits from a resource, asset, or property, including the right to exclude others from using it.

Demographic Transition

A model that describes the transformation of a society from high birth and death rates to low birth and death rates as a country develops from a pre-industrial to an industrialized economic system.