Which of the following was the first private-sector entity that set accounting standards in the United States?
A) Accounting Principles Board.
B) Committee on Accounting Procedure.
C) Financial Accounting Standards Board.
D) AICPA.

Question

Quizplus · Accepted Answer

The Committee on Accounting Procedure (CAP) was the first private-sector organization that set accounting standards in the United States, operating from 1939 to 1959 under the auspices of the American Institute of Certified Public Accountants (AICPA).

Which of the Following Was the First Private-Sector Entity That