danny1234huang
18.01.2021 •
Business
what is the relationship between the securities and exchange chommisison and accounting standard setting in the united states
Solved
Show answers
More tips
- G Goods and services Which TV is better - LCD or Plasma?...
- S Sport How to Learn to Pull Up on Monkey Bars?...
- L Leisure and Entertainment Scrapbooking: What is it and Why is it Becoming More Popular?...
- C Computers and Internet Where did torrents.ru move to?...
- B Business and Finance Understanding Cash Flow: What It Is and How It Works...
- C Computers and Internet What Are Peers and Seeds in Torrenting?...
- H Health and Medicine 10 Simple Techniques on How to Boost Your Mood...
- G Goods and services How to Choose the Right High Chair for Your Baby?...
- S Style and Beauty Learn how to tie a keffiyeh on your head like a pro...
Answers on questions: Business
- B Business A U.S. firm buys apples from New Zealand with New Zealand dollars it got in exchange for U.S. dollars. New Zealand residents then use these dollars to purchase oranges...
- B Business True or false: the market for lettuce does exhibit the two primary characteristics that define perfectly competitive markets....
- S Social Studies Describe the population growth trend in sub-Saharan Africa, and explain why this is occurring. Plz hurry...
- H History How does the author describe life in Oklahoma in 1935?...
- M Mathematics Is this a function or not ?...
- M Mathematics Ramon drives his car 150 miles in 3 hours. find the unit rate. a) ramon drives 50 miles per hour. b) ramon drives 1 mile per 50 hours. c) ramon drives 30 miles per...
- B Biology Why do plants cells have a cell wall? (pick all that apply) To transport proteins in and out of the cell. To give the cell and therefore the plant as a whole, shape....
Ответ:
Complete Question:
What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?
A) The SEC requires all companies listed on an exchange to submit their financial statements to the SEC.
B) The SEC coordinates with the AICPA in establishing accounting standards.
C) The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.
D) The SEC reviews financial statements for compliance.
C) The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.
Explanation:
Accounting principle can be defined as a general guideline to be followed by accountants or financial institutions when they record and report their financial transactions.
The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.
In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).
IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globally.
Hence, the relationship between the Securities and Exchange Commission and accounting standard setting in the United States is that, The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.
Ответ:
the answer is C