Which Body Has the Primary Responsibility for Establishing Accounting Standards

question 25

Multiple Choice

Which body has the primary responsibility for establishing accounting standards in Japan?

• A)Japanese Institute of Certified Public Accountants (JICPA)
• B)Japanese Accounting Association (JAA)
• C)Japan's Ministry of Finance (MoF)
• D)International Accounting Standards Board (IASB)

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Definitions:

Biweekly Salaries

Payments made to employees every two weeks, totaling 26 payments throughout the year.

Unearned Revenue

Money received by a company for a product or service that has yet to be delivered or performed.

Retainer Fee

A prepaid fee charged by professionals to clients to secure their services for a specified period.

Legal Representation

The act of having a lawyer or attorney act on behalf of an individual or entity in legal matters.