The Principal Task of the FASB Is to

question 110

Multiple Choice

The principal task of the FASB is to

• A)be a link between the business community and the Securities and Exchange Commission (SEC).
• B)establish GAAP in the United States.
• C)audit each public company's financial statements and records.
• D)act as a counsel and advocate for business in its dealings with the government,particularly,but not solely,to the SEC.
• E)review financial statements,so as to ensure adherence to GAAP.

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Definitions:

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