In the U.S. ,Generally Accepted Accounting Principles (GAAP)are established by the:
A)International Accounting Standards Board (IASB).
B)Public Company Accounting Oversight Board (PCAOB).
C)Financial Accounting Standards Board (FASB).
D)American Institute of Certified Public Accountants (AICPA).

Question

Quizplus · Accepted Answer

Currently,the Financial Accounting Standards Board (FASB)has the primary responsibility for setting the underlying rules of accounting in the United States.As a group,these rules are called Generally Accepted Accounting Principles,or GAAP for short.

In the US ,Generally Accepted Accounting Principles (GAAP)are Established by The