Which of the Following Is Not True Regarding Accounting Series

question 47

Multiple Choice

Which of the following is not true regarding Accounting Series Release No. 4?

• A)It stated that financial statements filed with the SEC and prepared in accordance with accounting principles for which there is no substantial authoritative support would be presumed to be misleading.
• B)It implied that the SEC might in the future determine acceptable accounting practices and mandate methods to be used in reports filed with it.
• C)It established an authoritative body for the development of accounting standards.
• D)It indicated that the SEC was growing impatient with the accounting profession.

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Definitions:

Ethnic Origin

A background or heritage shared by a group of people, often linked to nationality, race, or culture.

Sociocultural Factors

Are elements that impact an individual's life and behavior, including cultural norms, values, practices, and social contexts.

Physical Growth

The increase in size, height, and weight of an individual, as a result of the body's cells increasing in number and size.

Bogin's Study

A research investigation carried out by anthropologist Barry Bogin that focuses on patterns of human growth and development, often emphasizing the impact of sociocultural factors.