Which of the Following Statements Regarding the PCAOB Is Incorrect

question 54

Multiple Choice

Which of the following statements regarding the PCAOB is incorrect?

• A)It is a public-sector, nonprofit corporation.
• B)It is overseen by the SEC.
• C)It sets standards for public company audits.
• D)It has delegated all of its standard-setting authority to the AICPA.

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Definitions:

Commercialization

The process of bringing new products or services to market, including the production, marketing, and sale to end consumers.

Web

Short for World Wide Web, a network of online content formatted in HTML and accessed via the HTTP or HTTPS protocol.

Peer-To-Peer

A distributed network architecture where each participant (peer) shares a part of their resources with other peers directly, without requiring centralized coordination.

Economic Model

A theoretical construct representing economic processes by a set of variables and a set of logical or quantitative relationships between them.