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The SEC and FASB are two organizations

Author:
July 19th, 2019

The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles. It is true that

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a. they are both governmental agencies.

b. the SEC is a private organization of accountants.

c. the SEC often mandates guidelines when no accounting principles exist.

d. the SEC and FASB rarely cooperate in developing accounting standards.

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