Asked by
Madison DeLong
on Oct 28, 2024
Verified
The Financial Accounting Standards Board (FASB)has been given the authority by the Securities and Exchange Commission (SEC)to develop generally accepted accounting principles.
Financial Accounting Standards Board (FASB)
The private sector body given the primary responsibility to work out the detailed rules that become generally accepted accounting principles.
Securities and Exchange Commission (SEC)
A U.S. government agency that oversees securities transactions, activities of financial professionals, and the stock market to protect investors.
- Identify the role of major regulatory bodies in accounting.
Verified Answer
MG
Learning Objectives
- Identify the role of major regulatory bodies in accounting.
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