Congress Authorized Which of the Following Organizations to Establish Generally

question 80

Multiple Choice

Congress authorized which of the following organizations to establish generally accepted accounting principles?

• A) SEC.
• B) APB.
• C) AICPA.
• D) FASB.

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Definitions:

Corporate Income Tax

A tax imposed on the net income or profit of corporations and other business entities by the government.

Specific Excise Taxes

Taxes imposed on particular goods or services, such as gasoline or cigarettes, charged per unit sold.

Business Property Taxes

Taxes levied on the real estate and sometimes the personal property used in the operation of a business.

Progressive

Pertaining to progressive politics or movements that advocate for reforms and policies aimed at addressing social inequalities and promoting social justice.