Which of the following statements correctly identifies accounting standard setters?
A) The AICPA promulgates accounting standards in the U.S. and the IFRS issues international accounting standards.
B) The AICPA promulgates accounting standards in the U.S. and the IASB issues international accounting standards.
C) The FASB promulgates accounting standards in the U.S. and the IFRS issues international accounting standards.
D) The FASB promulgates accounting standards in the U.S. and the IASB issues international accounting standards.
Correct Answer:
Verified
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