The securities markets are the dominant influence on accounting regulation in the United States.

Question

Quizplus · Accepted Answer

The Securities and Exchange Commission (SEC), which is primarily responsible for regulating securities markets, has a significant impact on accounting regulation in the United States. The Financial Accounting Standards Board (FASB), which sets accounting standards, is also influenced by the needs of the securities markets. Therefore, the securities markets play a dominant role in shaping accounting regulation in the United States.

The Securities Markets Are the Dominant Influence on Accounting Regulation