Which of the Following Is Not Recognized as a Source

question 60

Multiple Choice

Which of the following is not recognized as a source of generally accepted accounting principles?

• A) Widespread and long-term use of a particular practice.
• B) The Financial Accounting Standards Board (FASB).
• C) The American Institute of Certified Public Accountants (AICPA).
• D) None of the above. Generally accepted accounting principles may arise from each of these sources.

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Definitions:

Creativity

The ability to generate new and original ideas, solutions, or products that are both novel and useful.

Creative Deviance

Involves the intentional nonconformity to established norms or practices in an effort to produce creative and innovative outcomes.

Sabotage

The deliberate act of damaging, disrupting, or destroying property or processes as a form of protest or resistance.

Innovation Sequence

A series of steps or processes that lead to the creation and implementation of new ideas, products, or methods.