The _____ is the private-sector financial accounting standard setter in the U.S., but has no enforcement powers.
A)Financial Accounting Standards Board (FASB)
B)Government Accountability Office (GAO)
C)International Accounting Standards Board (IASB)
D)Public Company Accounting Oversight Board (PCAOB)
E)Accounting Standards Board

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) is the private-sector financial accounting standard setter in the U.S. However, it has no enforcement powers. The Government Accountability Office (GAO) is a government agency that conducts audits and evaluations of government programs. The International Accounting Standards Board (IASB) is an independent international organization that sets accounting standards for global use. The Public Company Accounting Oversight Board (PCAOB) is a nonprofit organization that oversees audits of public companies to ensure they are accurate and independent. The Accounting Standards Board is a former standard-setting organization in the UK.

The _____ Is the Private-Sector Financial Accounting Standard Setter in the U.S