Going from 1938 to the present, which is the correct sequence of accounting rule-making bodies?

A) APB-CAP-FASB
B) CAP-FASB-APB
C) CAP-APB-FASB
D) FASB-APB-CAP

Accounting Rule-Making Bodies

Organizations or groups responsible for setting standards and regulations in the accounting field, like FASB or IASB.

CAP

An abbreviation often referring to the "Capitalization" of a company, which is the sum of a company's stock, long-term debt, and retained earnings.

FASB

The Financial Accounting Standards Board, a private, non-profit organization standard setter, which establishes the generally accepted accounting principles (GAAP) within the United States.