The Classifications for investment in Debt securities.

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Presented below are three models for setting GAAP. The purely political approach, where national legislative action decrees GAAP The private, professional approach, where GAAP is set and enforced by private professional actions only The public/private mixed approach, where GAAP is basically set by private-sector bodies that behave as though they were public agencies and whose standards to a great extent are enforced through governmental agencies Questions Which of these three models best describes standard setting in the United States? Provide justification for your answer.

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Chapter A2, Problem 2DQ

To determine

The Classifications for investment in Debt securities.

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Presented below are three models for setting GAAP. The purely political approach, where national legislative action decrees GAAP The private, professional approach, where GAAP is set and enforced by private professional actions only The public/private mixed approach, where GAAP is basically set by private-sector bodies that behave as though they were public agencies and whose standards to a great extent are enforced through governmental agencies Questions Which of these three models best describes standard setting in the United States? Provide justification for your answer.

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