Which of the following organizations is primarily responsible for establishing GAAP in the United States?
A)Securities Exchange Commission (SEC)
B)Financial Accounting Standards Board (FASB)
C)International Accounting Standards Board (IASB)
D)Internal Revenue Service (IRS)

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) is primarily responsible for establishing Generally Accepted Accounting Principles (GAAP) in the United States.

Which of the Following Organizations Is Primarily Responsible for Establishing