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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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**Quiz Question: Accounting Standards in the United States**

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**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

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**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.
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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