Asked by Kylie Gravel on Jun 22, 2024
Verified
While formally the SEC is charged with the responsibility for establishing accounting principles to be followed in the preparation of SEC filings, the impact of the SEC generally has been
A) in its assistance to Congress with the development of tax law
B) in guiding the development of stock exchanges
C) ineffective in controlling foreign corporations and investors
D) its informal review and approval of standards developed in the private sector prior to their release
SEC
The U.S. Securities and Exchange Commission, a federal agency responsible for enforcing federal securities laws and regulating the securities industry.
Accounting Principles
Fundamental guidelines or rules that govern the field of accounting and prescribe how financial transactions should be recorded and reported.
SEC Filings
Documents that publicly traded companies are required to submit to the U.S. Securities and Exchange Commission, providing comprehensive details about the company's financial performance and operations.
- Gain insight into the formulation and application of accounting regulations.
Verified Answer
Learning Objectives
- Gain insight into the formulation and application of accounting regulations.
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