The body that has the power to prescribe the accounting practices and standards to be employed by companies that fall under its jurisdiction is the
a. FASB.
b. AICPA.
c. SEC.
d. APB.
Answer: C
Intermediate Accounting
- Which of the following is an ethical concern of accountants?
- What would be an advantage of having all countries adopt and follow the same accounting standards?
- What is not a reason that accounting standards may differ across countries?
- What is "expectation gap"?
- What is a possible danger if politics plays too big a role in accounting standard setting?
- What is not a source of pressure that may influence the accounting standard setting process?
- The purpose of the International Accounting Standards Board is to
- Financial accounting standard-setting in the United States
- Which of the following is not considered a component of generally accepted accounting principles?
- What is the purpose of a FASB Staff Position?
- Rule 203 of the Code of Professional Conduct addresses:
- Which of the following publications does not qualify as a statement of generally accepted accounting principles?
- Which of the following is not a part of generally accepted accounting principles?
- Generally accepted accounting principles
- Members of the Financial Accounting Standards Board are
- The purpose of Statements of Financial Accounting Concepts is to
- An organization that has not published accounting standards is the
- Which of the following organizations has not been instrumental in the development of financial accounting standards in the United States?
- Which of the following pronouncements were issued by the Accounting Principles Board?
- The American Institute of Certified Public Accountants (AICPA) continues to be involved in all of the following except
- The purpose of the Emerging Issues Task Force is to
- FASB Technical Bulletins
- Which of the following is not a publication of the FASB?
- The Financial Accounting Standards Board employs a "due process" system which
- The major distinction between the Financial Accounting Standards Board (FASB) and its predecessor, the Accounting Principles Board (APB), is