The Private-Sector Group That Currently Has the Authority to Establish

question 178

Multiple Choice

The private-sector group that currently has the authority to establish generally accepted accounting principles in the United States is the:

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

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Definitions:

Patent Records

Official documents and files that contain the details and specifications of inventions for which patents have been granted, providing legal protection.

Copyright Act

Legislation that provides the legal framework for copyright protection, rights, and infringement issues.

Computer Software

Programs and operational information used by a computer to perform specific tasks.

Exclusive Right

A legal entitlement that allows the holder to be the sole person or entity to use, produce, or sell a particular thing or service.