Solved

_____ a Controversial Accounting Practice Is Emerging

Question 46

Multiple Choice

_____ 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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents