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Who has the legal authority to establish U.S. GAAP? - correct answer The SEC The SEC was established by the _________________. - correct answer Securities Exchange Act of 1934 How many board members does the FASB have? How long can they serve on the board? - correct answer The FASB has seven full-time members who serve for five-year terms and may be reappointed to one additional five-year term. What is the Committee on Accounting Procedures (CAP)? - correct answer The CAP was a ...

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Accountants are regulated by a variety of organizations. Match the statements with the most directly related organization: ● Accounting and Review Services Committee. ● American Institute of Certified Public Accountants. ● Auditing Standards Board. ● Federal Accounting Standards Advisory Board. ● Financial Accounting Standards Board. ● General Accounting Office. ● Government Accounting Standards Board. ● Public Company Accounting Oversight Board. ● Securities...