The "Hierarchy of GAAP" is established by the:
A) Financial Accounting Standards Board.
B) Federal Accounting Standards Advisory Board
C) Governmental Accounting Standards Board
D) All of the above have established a hierarchy

Question

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All three organizations, Financial Accounting Standards Board, Federal Accounting Standards Advisory Board, and Governmental Accounting Standards Board, have established a hierarchy of GAAP. The hierarchy establishes the authority of different types of accounting guidance, from highest to lowest, in order to provide consistency and reliability in financial reporting.

The "Hierarchy of GAAP" Is Established by The