When the FASB Deliberates About an Accounting Standard,firms Whose Financial

question 28

Multiple Choice

When the FASB deliberates about an accounting standard,firms whose financial statements would be affected by that standard

• A) are legally barred from lobbying the FASB.
• B) are not allowed to lobby the FASB if the standard would have a negative impact on their financial statements.
• C) are not allowed to lobby the FASB if the standard would have a positive impact on their financial statements.
• D) are free to lobby for or against the standard.

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