The Organization That Will Continue to Set Auditing Standards for Firms

question 43

Multiple Choice

The organization that will continue to set auditing standards for firms auditing private companies is the

• A)FASB
• B)GAO
• C)SEC
• D)AICPA

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Definitions:

Smartphone

A smartphone is a mobile device that combines cellular connectivity, computing capabilities, and internet access, along with other functionalities.

MICR Numbers

A line of numbers printed at the bottom of checks using a special magnetic ink; includes bank routing number, account number, and check number, used for electronic processing.

Routing Number

A nine-digit code used in the United States to identify a financial institution in a transaction.

Nine-Digit

Typically referring to a sequence of nine numbers, often used for identification purposes, such as a Social Security number in the United States.