Which Organization,in Addition to the Financial Accounting Standards Board (FASB),occasionally

question 165

Multiple Choice

Which organization,in addition to the Financial Accounting Standards Board (FASB) ,occasionally issues authoritative rules for financial statements?

• A)The Accounting Profession
• B)International Accounting Standards Board (IASB)
• C)Securities and Exchange Commission (SEC)
• D)Internal Revenue Service (IRS)

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Definitions:

Ingredients

The individual components or substances that are combined to create a final product, especially in food.

Bakery

A place of business where baked goods such as bread, cakes, and pastries are produced and sold.

Additional Costs

Expenses incurred beyond the initial purchase price or budgeted amounts, often unexpected or unplanned for.

Variable Costs

Expenses that change in proportion to the activity or volume of a business, such as materials and labor costs.