An Important Historical Reason for the FASB Reversing Its Positions

question 127

Multiple Choice

An important historical reason for the FASB reversing its positions when political pressures occur is:

• A) The cost of gathering data was prohibitive.
• B) The difficulties in measurement were too great.
• C) Companies withdraw financial support for the FASB.
• D) The SEC did not support the FASB position.

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Definitions:

Policy

A deliberate system of principles to guide decisions and achieve rational outcomes.

Activity

Any action or task undertaken by individuals or groups, often aimed at achieving a specific goal or outcome.

Centralization

Refers to the concentration of decision-making authority at the top levels of an organizational hierarchy.

Organizational Survival

The ability of an organization to continue existing and operating over time, often through adapting to changes in its environment.