A Rule Is Helpful to Both Managers and the Employees

question 502

Multiple Choice

A rule is helpful to both managers and the employees in the decision-making process. A rule

• A) allows judgments to be made.
• B) requires interpretation.
• C) pre-decides issues.
• D) provides the necessary details.

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Definitions:

Securities & Exchange Commission

A U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry, stock and options exchanges, and other electronic securities markets.

Generally Accepted Accounting Principles

A set of accounting standards and principles that guide the financial reporting process for public companies in the United States.

Financial Accounting Standards Board

An independent, nonprofit organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.

Public Company Accounting Oversight Board

A regulatory body established by Congress to oversee the audits of public companies in order to protect investors and the public interest.