Over the years, the Securities and Exchange Commission (SEC) has delegated its statutory authority to establish accounting principles for publicly traded companies in the United States.This delegated authority impacts which organization(s) ?
A) The Committee on Accounting Procedures of the American Institute of Accountants.
B) The Accounting Principles Board (APB) .
C) The Financial Accounting Standards Board (FASB) .
D) None of these organizations were ever delegated authority by the SEC to establish accounting principles in the U.S.
E) Each of these organizations were at one time or another delegated authority by the SEC to establish accounting principles in the U.S.
Correct Answer:
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