The Blue Ribbon Panel Was in Charge of Recommending an Approach

question 1

Multiple Choice

The Blue Ribbon Panel was in charge of recommending an approach to standard setting for private companies in the U.S.to the FAF,what did the Blue Ribbon Panel determine?

• A)A separate standard setting board for private company financial reporting should be established under the FAF's oversight.
• B)Initially the new Board should focus on making exceptions and modifications to U.S.GAAP for private companies rather than moving toward a separate,self-contained GAAP for private companies.
• C)The new Board should also work to develop a framework for determining which standards should be exempted or modified for private companies.
• D)All of the above

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