Intermediate Accounting Exam 1 Chapters 1-3 with Complete Solutions | Verified & Updated

The accounting standards power was first given to.... a. Accounting Principles Board b. Financial Accounting Standards Board c. The Committee on Accounting Procedure d. FASB Accounting Standards Codification - c The FASB Accounting Standards Codification - July 2009, is: a. the international accounting standard setter, establishing IFRS which are required in roughly 130 countries b. an electronic database that integrates and topically organizes US GAAP into one coherent body of literature. c. what first replaced APB, with seven members d. what issued 51 Accounting Research Bulletins - b What encompasses Stockholders' Equity? - contributed capital, retained earnings How could stockholder's equity change with no new issue of capital? - payment of dividends, net income gain or loss