In the US ,Accounting Standards Are Set by the Financial Accounting Standards

question 40

Multiple Choice

In the U.S. ,accounting standards are set by the Financial Accounting Standards Board (FASB) .From which body does FASB derive its authority?

• A)US government
• B)American Institute of Certified Public Accountants (AICPA)
• C)Securities and Exchange Commission (SEC)
• D)International Accounting Standards Board (IASB)

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Definitions:

Behaviorism

A branch of psychology that focuses on observable behaviors and the ways they're learned, ignoring internal thought processes.

Watson

John B. Watson, an American psychologist who established the psychological school of behaviorism, emphasizing the importance of observable behavior.

Cognitive Processes

The mental actions or operations involved in acquiring knowledge and understanding through thought, experience, and the senses.

Personality Theory

A framework that attempts to explain the patterns of thoughts, feelings, and behaviors that make up an individual's personality.