The Third Party Who Checks Annual Financial Statements to Ensure

question 41

Multiple Choice

The third party who checks annual financial statements to ensure that they are prepared according to Generally Accepted Accounting Principles (GAAP) and verifies that the information reported is reliable is the ________.

• A) NYSE Enforcement Board
• B) Accounting Standards Board
• C) Securities and Exchange Commission (SEC)
• D) auditor

---

Definitions:

Accommodation

In psychology, a cognitive process of adjusting one's schema to incorporate new information; in everyday usage, refers to making physical or social adjustments or adaptations.

Assimilation

The process by which a person or a group becomes part of another culture.

Existing Theories

Previously developed and accepted explanations for phenomena or observations within a particular domain of knowledge.

Toilet Training

The process of teaching a young child to use the toilet for urination and defecation, also known as potty training.