The FASB Takes on a Responsibility to Do the Following,except

question 48

Multiple Choice

The FASB takes on a responsibility to do the following,except:

• A)Set the objectives of financial reporting.
• B)Describe the elements of financial statements.
• C)Judge disputes between management and the CPA.
• D)Determine the criteria for deciding what information to include in financial statements.

---

Definitions:

Lithium

A soft, silver-white metal, the lightest metal and the lightest solid element, used in batteries and certain medicines.

Transition Metals

Elements found in the d-block of the periodic table that have the capability to form positive ions with incomplete d-orbitals.

Metalloids

Elements with properties that are intermediate between those of metals and solid nonmetals.

Atomic Symbols

Abbreviations assigned to elements based on their names, used for representing elements in chemical formulas and equations.