The Rule-Setting Body, Which Authorizes Generally Accepted Accounting Principles Is

question 52

Multiple Choice

The rule-setting body, which authorizes generally accepted accounting principles is:

• A)GAAP
• B)FASB
• C)SEC
• D)Federal Reserve System
• E)none of the above

---

Definitions:

Business Ethics

The study of appropriate business policies and practices regarding potentially controversial subjects like corporate governance, insider trading, bribery, discrimination, and corporate social responsibility.

Unethical Situations

Scenarios or conditions where actions or decisions violate moral principles or standards of conduct, often leading to harm or unfairness.

Stakeholder Expectations

The beliefs or standards that stakeholders hold about a business's performance or behavior, which can significantly influence business decisions.