The Most Significant Current Source of Generally Accepted Accounting Principles

question 110

Multiple Choice

The most significant current source of generally accepted accounting principles is the:

• A)New York Stock Exchange.
• B)Accounting Principles Board.
• C)Accounting Research Studies.
• D)AICPA committee on Accounting Procedure.
• E)Financial Accounting Standards Board.

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Definitions:

Reinforcement

In behavioral psychology, a process by which a behavior is strengthened or made more likely to occur again by rewards or consequences.

Groupthink

A mental effect that happens among a group when their need for agreement or uniformity leads to choices that are illogical or ineffective.

Group Polarization

A group's propensity to make choices that are further to the extreme compared to the initial leanings of the individuals in the group.

Jurors' Opinions

The personal judgments or beliefs held by members of a jury, which may influence their decision in a legal trial.