The Accounting Standards Codification Was Developed By

question 38

Multiple Choice

The Accounting Standards Codification was developed by:

• A)The Financial Accounting Standards Board.
• B)Certified public accountants.
• C)The Securities and Exchange Commission.
• D)The Internal Revenue Service.

---

Definitions:

Proposed Rule

A suggested regulation or policy that is under consideration but has not yet been adopted or implemented.

Judicial Review

The power of courts to assess the constitutionality of legislative acts or governmental actions and to declare them void if they violate the constitution.

Statute

A formal written law enacted by a legislative body, at the national or state level.

Legislative Rules

Regulations established by a governing body to order society, enforceable by law.