Which of the following has primary responsibility to develop Generally Accepted Accounting Principles?

Question

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The Financial Accounting Standards Board (FASB) has primary responsibility for developing Generally Accepted Accounting Principles (GAAP) in the United States, as charged by the Securities and Exchange Commission (SEC). Company executives and the Public Company Accounting Oversight Board (PCAOB) do not have primary responsibility for developing GAAP.

Which of the Following Has Primary Responsibility to Develop Generally