Many Organizations Have Contributed to the Establishment of Generally Accepted

question 161

Multiple Choice

Many organizations have contributed to the establishment of generally accepted accounting principles.Which of the following organizations has the PRIMARY responsibility for formulating accounting standards?

• A) FASB
• B) CMA
• C) AICPA
• D) SEC

---

Definitions:

Media Choices

The decision-making process regarding which media content to engage with, influenced by personal preferences, cultural backgrounds, and social contexts.

Deceptive

Intentionally misleading or giving a false impression to deceive.

Conglomeration

The process by which a single corporation acquires ownership of a variety of otherwise unrelated businesses.

Alcoholic Beverages

Alcoholic Beverages are drinks containing ethanol, commonly known as alcohol, including beer, wine, and spirits, which are consumed globally in various social and cultural settings.