Which of the Following Organizations Is Responsible for the Creation

question 117

Multiple Choice

Which of the following organizations is responsible for the creation and governance of accounting standards in the United States?

• A) Financial Accounting Standards Board
• B) Institute of Management Accountants
• C) American Institute of Certified Public Accountants
• D) Securities and Exchange Commission

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Definitions:

Assembly Line Technology

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product faster and more efficiently.

Recession

A period of decline in economic activity lasting more than a few months, as reflected by falling output, employment, income, and other aggregate measures.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Decrease in Supply

A reduction in the availability of a particular good or service in the market.