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:

Effective Goals

Objectives that are clearly defined, measurable, achievable, relevant, and time-bound, assisting in guiding motivation and measuring progress.

Measurable

Capable of being quantified or expressed as a numerical value to assess the size, amount, or degree of something.

Mass Merchandiser

Retail businesses that sell a large variety of goods to consumers at low prices, typically in large stores or online.

Wal-Mart

An American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.