Question Details

The Securities and Exchange Commission appointed the Committee 



TRUE OR FALSE:
1.	Investors are interested in financial reporting because it provides information that is useful for making decisions.

	2.	Users of financial accounting statements have both coinciding and conflicting needs for information of various types.

	3.	The Securities and Exchange Commission appointed the Committee on Accounting Procedure.

	4.	The passage of a new FASB Accounting Standards Update requires the support of five of the seven board members.

	5.	Statements of Financial Accounting Concepts set forth fundamental objectives and concepts that are used by the FASB in developing future standards of financial accounting and reporting.



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