The establishment of which of the following groups has resulted in a challenge to the FASB's standard-setting powers?
A)The Governmental Accounting Standards Board (GASB)
B)The Emerging Issues Task Force (EITF)
C)The Accounting Standards Executive Committee (AcSEC)
D)All of the above

Question

Quizplus · Accepted Answer

The establishment of the Governmental Accounting Standards Board (GASB), the Emerging Issues Task Force (EITF), and the Accounting Standards Executive Committee (AcSEC) has resulted in challenges to the Financial Accounting Standards Board's (FASB) standard-setting powers, as each of these groups plays a significant role in the development and interpretation of accounting standards, thereby influencing the standard-setting process.

The Establishment of Which of the Following Groups Has Resulted