The FASB takes on a responsibility to do the following,except:
A)Set the objectives of financial reporting.
B)Describe the elements of financial statements.
C)Judge disputes between management and the CPA.
D)Determine the criteria for deciding what information to include in financial statements.

Question

Quizplus · Accepted Answer

The FASB's responsibility is to set accounting standards and guidelines for financial reporting, including setting objectives of financial reporting, describing the elements of financial statements, and determining the criteria for deciding what information to include in financial statements. However, the FASB does not have the authority to judge disputes between management and the CPA.

The FASB Takes on a Responsibility to Do the Following,except