ACCT 550 Enthusiastic Study / snaptutorial.com - PowerPoint PPT Presentation

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ACCT 550 Enthusiastic Study / snaptutorial.com

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CA1-1 (FASB and Standard-Setting)Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false. 1. GAAP is the term used to indicate the whole body of FASB authoritative literature 2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements 3. The primary governmental body that has influence over the FASB is the SEC. – PowerPoint PPT presentation

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