An Accounting Principle Must Receive Substantial Authoritative Support to Qualify

question 82

Multiple Choice

An accounting principle must receive substantial authoritative support to qualify as generally accepted.Among the organizations and agencies that have been influential in the development of generally accepted accounting principles,which of the following has provided the most influential leadership?

• A)Internal Revenue Service.
• B)Institute of Management Accountants.
• C)Financial Accounting Standards Board.
• D)New York Stock Exchange.

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Definitions:

Discomfort Anxiety

Anxiety or unease stemming from anticipation of discomfort in either physical, emotional, or social situations.

Stressor

Any event, situation, or environmental demand that causes stress to an individual, potentially affecting their mental or physical health.

Behavior

The actions or reactions of an organism, often in response to external stimuli, observable by others.

Change Plan

A strategy or roadmap designed to guide an individual or organization from a current state to a desired future state.