The authoritative body in the United States that specifies accounting policy for U.S.business firms and certified public accounting firms.

Question

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The Financial Accounting Standards Board (FASB) sets accounting standards and policies for U.S. business firms and certified public accounting firms. The Federal Accounting Standards Board (FASAB) sets accounting standards for federal government entities, the International Accounting Standards Board (IASB) sets international accounting standards, and the Securities and Exchange Commission (SEC) oversees the stock market and financial reporting of publicly traded companies.

The Authoritative Body in the United States That Specifies Accounting