_____ A controversial accounting practice is emerging. No official accounting pronouncement pertaining to the emerging practice exists. Based on recent history (the last 15 years) , the SEC most likely would
A) Impose a moratorium on the emerging practice until it can issue an accounting pronouncement.
B) Officially request the FASB or the EITF to put the item on its agenda.
C) Officially request the AICPA to prepare a position paper that serves as unofficial GAAP until the FASB addresses the issue.
D) Issue a pronouncement of its own that establishes GAAP in this area.
E) Impose a moratorium on the emerging practice until the FASB addresses the issue.
Correct Answer:
Verified
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