31. Presents all known facts and points of view on a topic; issued by the FASB.
32. Issued by the Financial Accounting Standards Board (FASB) and establish GAAP for specific accounting issues.
33. Responsible for adopting auditing standards.
23. ANS: J PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 20 min.
24. ANS: A PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 20 min.
25. ANS: I PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 20 min.
26. ANS: B PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 20 min.
27. ANS: H PTS: 1 DIF: Difficulty: Moderate