Which of the Following Established GAAP

question 54

Multiple Choice

Which of the following established GAAP?

• A) The American Institute of Certified Public Accountants
• B) The American Institute of Auditors
• C) The Financial Accounting Standards Board
• D) The American Accounting and Auditing Standards Board
• E) The Federal Accounting Standards Board

---

Definitions:

Dividends

Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders.

Treasury Stock

Treasury Stock refers to shares that were once part of the outstanding shares of a company but were later reacquired by the company itself.

Issued Shares

The total number of shares that have been allocated to shareholders, including both public investors and company officers.

Outstanding Shares

Refers to the total number of shares of a corporation that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.