To which of the following entities must a company report if it sells its stock on the organized stock market?
A)American Institute of Certified Public Accountants (AICPA)
B)American Accounting Association (AAA)
C)International Accounting Standards Board (IASB)
D)Securities and Exchange Commission (SEC)

Question

Quizplus · Accepted Answer

The Securities and Exchange Commission (SEC) is the regulating authority that oversees the organized stock market in the United States. Therefore, a company must report to the SEC if it sells its stock on the organized stock market. The American Institute of Certified Public Accountants (AICPA) and the American Accounting Association (AAA) are professional organizations for accountants and do not have regulatory authority over the stock market. The International Accounting Standards Board (IASB) sets global accounting standards but does not regulate stock markets.

To Which of the Following Entities Must a Company Report