Asked by Abigail Rodriguez on Jul 18, 2024
Verified
The private sector organization involved in developing accounting principles is the
A) Feasible Accounting Standards Body.
B) Financial Accounting Studies Board.
C) Financial Accounting Standards Board.
D) Financial Auditors' Standards Body.
Accounting Principles
The rules and guidelines that businesses follow to report financial information consistently and accurately.
Private Sector
The part of the economy that is owned and operated by individuals and companies for profit, and is not controlled by the state.
Financial Accounting Standards Board
An independent organization responsible for establishing and improving financial accounting standards in the United States.
- Identify the bodies responsible for developing accounting principles and their significance.
Verified Answer
Learning Objectives
- Identify the bodies responsible for developing accounting principles and their significance.
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