In Section 101 of Codification of Financial Reporting Policies, the Securities and Exchange Commission indicated that it would concentrate on pronouncements on disclosures in reports filed by enterprises subject to its jurisdiction, leaving the establishment of financial accounting standards to the Financial Accounting Standards Board.
In your opinion, has the SEC adhered to the policy stated above? Explain.

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The Answer of In Section 101 of Codification of Financial Reporting Policies, the Securities and Exchange Commission indicated that it would concentrate on pronouncements on disclosures in reports filed by enterprises subject to its jurisdiction, leaving the establishment of financial accounting standards to the Financial Accounting Standards Board. In your opinion, has the SEC adhered to the policy stated above? Explain.

In Section 101 of Codification of Financial Reporting Policies, the