The
Financial Accounting Standards Board has the responsibility for
setting accounting and financial reporting standards for ( )
A: All federal and state
organizations.
B: All not-for-profit
organizations that are nongovernmental and business entities.
C: All not-for-profit organizations.
D: Both B) and C) are correct.
Financial Accounting Standards Board has the responsibility for
setting accounting and financial reporting standards for ( )
A: All federal and state
organizations.
B: All not-for-profit
organizations that are nongovernmental and business entities.
C: All not-for-profit organizations.
D: Both B) and C) are correct.
举一反三
- The Governmental Accounting Standards Board (GASB) is the body authorized to establish accounting principles for all governmental and not-for-profit organizations.
- Which of the following organizations is least likely involved with enforcing compliance with financial reporting standards A: Financial Service Authority (FSA). B: Securities and Exchange Commission (SEC). C: International Accounting Standards Board (IASB).
- Which of the following factors increase the credibility of accounting<br/>communication?() A: Accounting standards and auditing B: Monitoring by financial analysts C: Management reputation D: All of the above
- Professional organizations of accountants and auditors that establish financial reporting standards are called :（） A: Regulatory authorities. B: Financial services authorities. C: Standard setting bodies.
- Although accounting has several specific uses, the overall purpose of accounting can be summarized as A: to provide financial information that is useful to decision makers. B: to meet the legal requirements of the Financial Accounting Standards Board (FASB). C: to allow the government to track business activity levels. D: to compute the profit or loss and declared dividend of a business firm.