Three organizations important to accounting are listed below.Select the organization that most closely achieves the role described.
-Issues financial accounting concepts that are used as a guide to accounting standard setting.
A)American Institute of Certified Public Accountants (AICPA)
B)Financial Accounting Standards Board (FASB)
C)Securities and Exchange Commission (SEC)

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) issues financial accounting concepts that are used as a guide to accounting standard setting. The American Institute of Certified Public Accountants (AICPA) primarily sets ethical and professional standards for the accounting profession, while the Securities and Exchange Commission (SEC) oversees the capital markets and financial reporting by public companies.

Three Organizations Important to Accounting Are Listed Below