Which organization has the most legal authority?
A)Financial Accounting Standards Board
B)Accounting Standards Executive Committee
C)Governmental Accounting Standards Board
D)Securities and Exchange Commission

Question

Quizplus · Accepted Answer

The Securities and Exchange Commission (SEC) has the most legal authority among the given organizations. It is a federal agency and has the power to establish accounting and auditing standards for publicly traded companies. The other organizations listed are also involved in setting accounting and auditing standards, but they do not have the same level of legal authority as the SEC.

Which Organization Has the Most Legal Authority