Asked by Natasha De Freitas on Jun 05, 2024
Verified
The primary accounting standard-setting body in the United States is the International Accounting Standards Board.
Accounting Standard-Setting
The process of developing the rules and guidelines that govern the preparation and presentation of financial statements.
- Identify the major standard-setting bodies in accounting and their roles.
Verified Answer
RF
Roser FiguerasJun 11, 2024
Final Answer :
False
Explanation :
The primary accounting standard-setting body in the United States is the Financial Accounting Standards Board (FASB), not the International Accounting Standards Board (IASB). The IASB is responsible for setting accounting standards internationally.
Learning Objectives
- Identify the major standard-setting bodies in accounting and their roles.
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