The independent group consisting of individuals from many countries and identifies preferred accounting practices for all countries is the:
A)AICPA.
B)IASB.
C)CAP.
D)SEC.
E)FASB.

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is an independent group that consists of individuals from many countries and identifies preferred accounting practices for all countries. The American Institute of Certified Public Accountants (AICPA) is a professional organization of certified public accountants in the United States. The CAP (Committee on Accounting Procedure) was a standard-setting committee for U.S. accounting from 1939 until 1959. The Securities and Exchange Commission (SEC) is a government agency responsible for regulating financial markets in the United States. The Financial Accounting Standards Board (FASB) is a U.S.-based standard-setting organization for accounting.

The Independent Group Consisting of Individuals from Many Countries and Identifies