The ________ Determines Accounting Policy for U.S. Firms

question 31

Multiple Choice

The ________ determines accounting policy for U.S. firms.

• A) Securities and Exchange Commission (SEC)
• B) Federal Reserve System (Fed)
• C) Financial Accounting Standards Board (FASB)
• D) General Agreement on Tariffs and Trade (GATT)

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Definitions:

External Cause

Factors that originate from outside an individual that can influence or trigger a particular outcome or effect.

Harold Kelley

A psychologist best known for his contributions to social psychology, particularly in the areas of attribution theory and interpersonal relations.

Internal Cause

An explanation of behavior as stemming from personal dispositions, traits, abilities, or feelings.

Conformity Rates

The measure of how much individuals change their behavior or beliefs to match those of a group, often studied in social psychology to understand the influence of group dynamics on individual actions.