In the United States, the Primary Setter of Management Accounting

question 33

Multiple Choice

In the United States, the primary setter of management accounting standards is the

• A) U.S. Department of Commerce
• B) Financial Accounting Standards Board
• C) Securities and Exchange Commission
• D) IMA

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Definitions:

Contributions

Money, goods, or services given to a business or a non-profit entity without any expectation of return, often for charitable reasons.

Artworks And Historical Treasures

Artworks and historical treasures represent valuable and culturally significant assets owned by entities, often not intended for sale but preserved for public benefit, educational purposes, and cultural preservation.

Revenue And Receivables

The income generated from normal business operations and the claims to cash or other assets by an entity, usually resulting from sales transactions.

Voluntary Health And Welfare Entities

Organizations that operate for the purpose of promoting health and welfare, primarily relying on voluntary contributions from the public.