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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