Which the Following Organizations Is Primarily Responsible for Establishing GAAP

question 41

Multiple Choice

Which the following organizations is primarily responsible for establishing GAAP today?

• A)Financial Accounting Standards Board FASB)
• B)Securities and Exchange Commission SEC)
• C)Internal Revenue Service IRS)
• D)Federal Government

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Definitions:

Strategic Management

The process by which an organization's leaders develop and implement plans to achieve specific goals and objectives over the long term, taking into account both internal and external environments.

Analytical Planning

The process of systematically analyzing variables in order to make informed, strategic decisions.

Bryson

Refers to a specific context or individual which requires additional information for a precise definition.

Capacity Building

The process of developing and strengthening the skills, instincts, abilities, processes, and resources that organizations and communities need to survive, adapt, and thrive.