The Third Party Who Checks Annual Financial Statements to Ensure

question 79

Multiple Choice

The third party who checks annual financial statements to ensure that they are prepared according to Generally Accepted Accounting Principles (GAAP) and verifies that the information reported is reliable is the

• A)Australian Securities and Investments Commission (ASIC).
• B)auditor.
• C)Australian Securities Exchange.
• D)Australian Accounting Standards Board.

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Definitions:

FDR

Franklin D. Roosevelt, the 32nd President of the United States, who served four terms from 1933 until his death in 1945 and led the country through the Great Depression and World War II.

Agricultural Adjustment Act

A New Deal legislation passed in 1933 aimed at boosting agricultural prices by reducing surpluses. It provided financial assistance to farmers who reduced crop acreage.

Economic Security

A condition in which individuals or communities have the assurance that their basic economic needs, such as food, shelter, and income, will be met.

Social Security

A government program designed to provide financial assistance to people who are retired, unemployed, or disabled.