Generally accepted accounting principles are developed by

Question

Quizplus · Accepted Answer

Generally accepted accounting principles (GAAP) are developed by the Financial Accounting Standards Board (FASB), which is an independent, private-sector organization that sets accounting standards for public and private companies and not-for-profit organizations in the United States. The Securities and Exchange Commission (SEC) oversees the FASB, but does not develop GAAP. Congress does not develop GAAP either. The New York Stock Exchange (NYSE) is a stock exchange and does not develop GAAP.

Generally Accepted Accounting Principles Are Developed by