The has ultimate responsibility for specifying generally accepted accounting principles for publicly traded companies in the United States.
A) IASC
B) FASB
C) SEC
D) GAAP

Question

Quizplus · Accepted Answer

The SEC (Securities and Exchange Commission) has the ultimate authority to specify GAAP for publicly traded companies in the U.S., although it delegates much of this responsibility to the FASB.

The Has Ultimate Responsibility for Specifying Generally Accepted Accounting Principles