Which of the following bodies formulates the generally accepted accounting principles (GAAP)?
A) Accounting Disclosure Board
B) Financial Accounting Standards Board
C) Association of Certified Fraud Examiners
D) Securities and Exchange Commission
E) CPA Vision Project

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) formulates the generally accepted accounting principles (GAAP) in the United States. The other options listed do not have a direct role in formulating GAAP.

Which of the Following Bodies Formulates the Generally Accepted Accounting