Financial Accounting Standard-Setting in the United States

Financial accounting standard-setting in the United States

A) can be described as a social process which reflects political actions of various interested user groups as well as a product of research and logic.
B) is based solely on research and empirical findings.
C) is a legalistic process based on rules promulgated by governmental agencies.
D) is democratic in the sense that a majority of accountants must agree with a standard before it becomes enforceable.