Three major organizations in the private and public sector develop U.S.and international GAAP.They include all of the following except the
A)EU (European Union)
B)SEC (Securities and Exchange Commission)
C)FASB (Financial Accounting Standards Board)
D)IASB (International Accounting Standards Board)

Question

Quizplus · Accepted Answer

While the EU is involved in developing financial reporting standards for European companies, they do not contribute to the development of U.S. or international GAAP. The other three organizations listed (SEC, FASB, and IASB) are all involved in developing and enforcing GAAP standards.

Three Major Organizations in the Private and Public Sector Develop