The SEC and FASB Are Two Organizations That Are Primarily

question 7

Multiple Choice

The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles.It is true that

• A)they are both governmental agencies.
• B)the SEC is a private organization of accountants.
• C)the SEC relies on FASB to develop accounting standards.
• D)the SEC and FASB rarely cooperate in developing accounting standards.

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Definitions:

Financial Security

A state of having stable income or other resources to support a standard of living now and in the foreseeable future.

Spiritual Matters

Concerns or activities related to the soul, the spirit, or the sacred, often involving questions of meaning and existential significance.

Cohabitation

Couples living together without being married.

Alternative

Referring to one or more options or choices apart from the conventional or usual.