Listed Below Are Ten Organizations Followed by a List of Phrases

question 161

Multiple Choice

Listed below are ten organizations followed by a list of phrases that describe or characterize the organizations. Match each phrase with the correct organization.
-FASAC

• A)FASB's predecessor.
• B)Primary national organization of accountants working in industry.
• C)Regulates the financial reporting for public companies.
• D)The FASB's parent organization.
• E)National organization of certified public accountants.
• F)Sets accounting standards in the United States.
• G)Provides timely responses to financial reporting issues.
• H)Advises the FASB
• I)Sets global accounting standards.
• J)Establishes auditing standards in the US for public companies.

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Definitions:

Retirement Fund

A Retirement Fund is a pool of funds contributed by employees, employers, or both for the future financial security of retirees.

Withdrawals

The act of taking money out of an account which can affect the account balance and interest calculations.

Monthly Payments

Regular payments made every month, commonly associated with loans, mortgages, or subscription services.

Loan

A sum of money that is borrowed, typically from a financial institution, which is expected to be paid back with interest.