Three organizations important to accounting are listed below.Select the organization that most closely achieves the role described.
-Primarily responsible for setting accounting standards today.
A)American Institute of Certified Public Accountants (AICPA)
B)Financial Accounting Standards Board (FASB)
C)Securities and Exchange Commission (SEC)

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) is primarily responsible for setting accounting standards today. The American Institute of Certified Public Accountants (AICPA) provides guidance and support for CPAs, while the Securities and Exchange Commission (SEC) oversees financial reporting for publicly traded companies.

Three Organizations Important to Accounting Are Listed Below