Which of the Following Groups Has the Primary Responsibility for Establishing

question 28

Multiple Choice

Which of the following groups has the primary responsibility for establishing generally accepted accounting principles for business entities in the United States?

• A)Internal Revenue Service.
• B)U.S. Congress.
• C)Financial Accounting Standards Board.
• D)International Accounting Standards BoarD.The Financial Accounting Standards Board is a privately funded group charged with establishing accounting standards for the U.S. It is not a branch of the U.S. government.

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Definitions:

Function Morphemes

Elements that serve to express grammatical or relational meaning within a sentence, rather than lexical content.

Garden Path Sentences

Sentences that lead the reader or listener to interpret part of the sentence in a way that turns out to be incorrect, requiring reanalysis for proper understanding.

Semantic Relationship

A connection between words in language based on the similarity of their meanings.

Whorfian Hypothesis

The proposal that the language one speaks determines or heavily influences the thoughts one can think or the saliency of different categories of thought.