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

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Definitions:

Interest Category

Groups or classes that share common interests or characteristics, often used in marketing to target products or services.

Inventory

The total amount of goods and materials held by a company to support production, fulfill orders, and maintain service levels.