Asked by Jordan Ratliff on May 19, 2024
Verified
Which of the following has primary responsibility to develop Generally Accepted Accounting Principles?
A) Financial Accounting Standards Board.
B) Company Executives.
C) Securities and Exchange Commission.
D) Public Company Accounting Oversight Board.
Generally Accepted Accounting Principles
A set of widely adhered to principles and guidelines for reporting financial information.
Financial Accounting Standards Board
An independent organization responsible for establishing and improving financial accounting and reporting standards in the United States.
- Identify the key players responsible for developing and enforcing financial reporting standards.
Verified Answer
SL
Shara LaPeauxMay 20, 2024
Final Answer :
A
Explanation :
The Financial Accounting Standards Board (FASB) has primary responsibility for developing Generally Accepted Accounting Principles (GAAP) in the United States.
Learning Objectives
- Identify the key players responsible for developing and enforcing financial reporting standards.
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