The private board that currently has the authority to establish U.S.generally accepted accounting principles is the:
A)APB
B)FASB
C)AAA
D)AICPA
E)SEC

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) is the private board that currently has the authority to establish U.S. generally accepted accounting principles (GAAP). The others listed are accounting organizations, but do not have the same level of authority as the FASB in setting GAAP.

The Private Board That Currently Has the Authority to Establish