Question Details

Which organization was responsible for issuing Accounting Research Bulletins 



1.	What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?
a.	The SEC requires all companies listed on an exchange to submit their financial statements to the SEC.
b.	The SEC coordinates with the AICPA in establishing accounting standards.
c.	The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.
d.	The SEC reviews financial statements for compliance.

	2.	What is due process in the context of standard setting at the FASB?
a.	The FASB operates in full view of the public.
b.	Public hearings are held on proposed accounting standards.
c.	Interested parties can make their views known.
d.	All of the answer choices are correct.

	3.	Which of the following organizations has been responsible for setting U.S. accounting standards?
a.	The Accounting Principles Board.
b.	The Committee on Accounting Procedure.
c.	The Financial Accounting Standards Board.
d.	All of the answer choices are correct.

	4.	Why did the AICPA create the Accounting Principles Board?
a.	The SEC disbanded the previous standard setting organization.
b.	The previous standard setting organization did not provide a structured set of accounting principles.
c.	No such organization existed in the past.
d.	None of the answer choices are correct.

	5.	Which organization was responsible for issuing Accounting Research Bulletins ?
a.	The Accounting Principles Board.
b.	The Committee on Accounting Procedure.
c.	The SEC.
d.	The FASB.



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