Accounting standards setters do which of the following?
A) protect investors and creditors
B) develop concepts, rules, and guidelines for financial reporting
C) assure transparent and truthful reporting and guarantee the efficient functioning of the capital markets
D) prosecute violators of their rules and guidelines so as to maintain the public trust and to ensure the efficient functioning of capital markets

Question

Quizplus · Accepted Answer

Accounting standards setters are responsible for developing concepts, rules, and guidelines for financial reporting to ensure consistency and comparability in financial statements.

Accounting Standards Setters Do Which of the Following