Which of the Following Is a True Statement

question 15

Multiple Choice

Which of the following is a true statement?

• A)The SEC initially required the accounting profession to consult with it before setting any specific accounting principles.
• B)The SEC was created by Congress to oversee the accounting profession.
• C)The SEC was given authority to prescribe the form and content of financial information filed with the SEC.
• D)The SEC formed the Committee on Accounting Procedure to develop a comprehensive set of accounting principles.

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Definitions:

Trucks

Large, heavy motor vehicles designed for transporting goods or performing other specific tasks.

Purchase

The act of buying goods or services.

Items

Objects, products, or goods that are listed or mentioned, typically in the context of shopping, inventory, or collections.

Gauge Copper

A measurement of the thickness or diameter of copper wire, indicating its current-carrying capacity.