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:

Cerebellum

A major structure of the hindbrain that is responsible for motor control, coordination, precision, and accurate timing of movements.

Sensory Feedback

Information received from the environment or within the body that is sensed and processed by the brain to guide or modify actions.

Motor Learning

Motor Learning is the process of acquiring or improving motor skills, involving changes in the brain and nervous system through practice and experience.

Rapidly Adapting

Refers to sensory receptors that respond quickly to a stimulus change but then quickly decrease response, important for detecting changes in stimulus intensity.