The primary accounting standard-setting body in the United States is the

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The Financial Accounting Standards Board (FASB) is the primary accounting standard-setting body in the United States. The International Accounting Standards Board (IASB) sets global accounting standards, but FASB is responsible for GAAP (Generally Accepted Accounting Principles) in the United States. The Internal Revenue Service (IRS) is responsible for tax regulations and enforcement, not accounting standards. The Securities and Exchange Commission (SEC) oversees financial reporting for publicly traded companies but does not set accounting standards.

The Primary Accounting Standard-Setting Body in the United States Is