Generally accepted accounting principles are set by the Securities and Exchange Commission.

Name: Generally accepted accounting principles are set by the Securities and Exchange Commission.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

Generally accepted accounting principles (GAAP) in the United States are established by the Financial Accounting Standards Board (FASB), not the Securities and Exchange Commission (SEC). However, the SEC does require publicly traded companies to follow GAAP in their financial reporting.

Generally Accepted Accounting Principles Are Set by the Securities and Exchange