Which Organization,in Addition to the Financial Accounting Standards Board (FASB),occasionally

question 165

Multiple Choice

Which organization,in addition to the Financial Accounting Standards Board (FASB) ,occasionally issues authoritative rules for financial statements?

• A)The Accounting Profession
• B)International Accounting Standards Board (IASB)
• C)Securities and Exchange Commission (SEC)
• D)Internal Revenue Service (IRS)

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Definitions:

Equity Method Investments

An accounting technique used to record investments in which the investor has significant influence over the investee but does not control it outright, typically through the ownership of 20% to 50% of the voting stock.

Cash Dividends

A financial distribution in the form of cash from a corporation to its investors as profits.

Dividend Revenue

Income received from owning shares in a company when the company decides to distribute some of its earnings to shareholders.

Unrealized Gain

The paper profit attributed to an investment that has increased in value but has not yet been sold by the investor.