The Securities and Exchange Commission (SEC)is the government agency that has primary authority for setting accounting standards in the U.S.

Question

Quizplus · Accepted Answer

The SEC does not have primary authority for setting accounting standards in the U.S. That responsibility lies with the Financial Accounting Standards Board (FASB). However, the SEC does have oversight authority and can influence accounting standards through its enforcement powers and public policy initiatives.

The Securities and Exchange Commission (SEC)is the Government Agency That