The Financial Accounting Standards Board (FASB) has been given the authority by the Securities and Exchange Commission
Posted: Sat Aug 07, 2021 6:37 am
The Financial Accounting Standards Board (FASB) has been given the authority by the
Securities and Exchange Commission (SEC) to develop generally accepted accounting
principles.
Answer: TRUE
Explanation: Previously the Securities and Exchange Commission worked with organizations of
professional accountants to develop generally accepted accounting principles; today this is a
responsibility of the Financial Accounting Standards Board.
Securities and Exchange Commission (SEC) to develop generally accepted accounting
principles.
Answer: TRUE
Explanation: Previously the Securities and Exchange Commission worked with organizations of
professional accountants to develop generally accepted accounting principles; today this is a
responsibility of the Financial Accounting Standards Board.