Which of the following organizations is responsible for the creation and governance of accounting standards in the United States? O A. Securities and Exchange Commission O B. Financial Accounting Standards Board O C. Institute of Management Accountants O D. American Institute of Certified Public Accountants
Which of the following organizations is responsible for the creation and governance of accounting standards in the United States? O A. Securities and Exchange Commission O B. Financial Accounting Standards Board O C. Institute of Management Accountants O D. American Institute of Certified Public Accountants
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![**Quiz Question: Accounting Standards in the United States**
---
**Question:**
Which of the following organizations is responsible for the creation and governance of accounting standards in the United States?
**Options:**
- **A.** Securities and Exchange Commission
- **B.** Financial Accounting Standards Board
- **C.** Institute of Management Accountants
- **D.** American Institute of Certified Public Accountants
---
**Explanation:**
In this multiple-choice question, students are asked to identify the organization that is tasked with the creation and governance of accounting standards in the United States. Each option represents a significant body within the financial and accounting sectors. Students should select the correct option based on their knowledge of the accounting regulatory environment.
**Note:**
There are no graphs or diagrams associated with this question; it is a straightforward text-based multiple-choice question.
This question appears to be part of an online quiz or educational assessment aimed at evaluating students' understanding of accounting principles and regulatory frameworks.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe98fca15-9a57-40d1-b499-601eb3d3ce87%2Fb239664b-7482-47b8-a2e7-9370cc9cc134%2Fpect0p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Quiz Question: Accounting Standards in the United States**
---
**Question:**
Which of the following organizations is responsible for the creation and governance of accounting standards in the United States?
**Options:**
- **A.** Securities and Exchange Commission
- **B.** Financial Accounting Standards Board
- **C.** Institute of Management Accountants
- **D.** American Institute of Certified Public Accountants
---
**Explanation:**
In this multiple-choice question, students are asked to identify the organization that is tasked with the creation and governance of accounting standards in the United States. Each option represents a significant body within the financial and accounting sectors. Students should select the correct option based on their knowledge of the accounting regulatory environment.
**Note:**
There are no graphs or diagrams associated with this question; it is a straightforward text-based multiple-choice question.
This question appears to be part of an online quiz or educational assessment aimed at evaluating students' understanding of accounting principles and regulatory frameworks.
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