Match the acronym with the description that best reflects it.(There are more descriptions than acronyms.)
ACRONYM
1._____ SEC
2._____ GAAP
3._____ PCAOB
4._____ FASB
5._____ IASB
6._____ SOX
7._____ AICPA
DESCRIPTION
A.The Board that establishes international accounting standards.
B.This organization regulates activities associated with the stock market such as the reporting of financial data by publicly owned companies.
C.The U.S.agency that must approve mergers between very large publicly owned corporations.
D.The national professional organization of accountants.
E.A set of laws established to strengthen corporate reporting in the United States.
F.The U.S.Board that approves the rules for auditing publicly owned companies.
G.Rules of financial accounting created by the FASB for use in the United States.
H.The organization that establishes business laws in the U.S.
I.The U.S.agency that certifies foreign accounting firms to practice in the U.S.
J.The Board that establishes the accounting rules that govern American publicly owned corporations.
Correct Answer:
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2.G
3....
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