Given the Increased Development of Complex Business Structures,which of the Following

question 12

Multiple Choice

Given the increased development of complex business structures,which of the following regulators is responsible for the continued usefulness of accounting reports?

• A) Securities and Exchange Commission (SEC)
• B) Public Company Accounting Oversight Board (PCAOB)
• C) Financial Accounting Standards Board (FASB)
• D) All of the above

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Definitions:

Primary Market

The financial market segment where new securities are issued and sold for the first time, often through public offerings or private placements.

Securities

Ownership instruments in the form of stocks for publicly-quoted companies, creditor agreements represented by bonds with either corporations or governmental bodies, or claims to ownership through options.

General Public

The broad group of people in society who do not have a specialized interest in financial markets or investments but may be affected by its outcomes.

NASDAQ

An American stock exchange known for its high concentration of technology companies, and as a global electronic marketplace for buying and selling securities.