Statements of Financial Accounting Standards are developed by:
A) The Financial Accounting Standards Board.
B) Certified public accountants.
C) The Securities and Exchange Commission.
D) The Internal Revenue Service.

Question

Quizplus · Accepted Answer

Statements of Financial Accounting Standards are developed by The Financial Accounting Standards Board (FASB), an independent organization established in 1973 by the Securities and Exchange Commission (SEC). The FASB is responsible for setting accounting standards and principles for public and private companies and nonprofits.

Statements of Financial Accounting Standards Are Developed By