not a difference.
ANS: D 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: 3 min.
16. The Accounting Principles Board issued Opinions between:
ANS: A PTS: 1 DIF: Difficulty: Easy
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: Knowledge NOT: Time: 1 min.
17. The Financial Accounting Standards Board has issued statements between:
ANS: C PTS: 1 DIF: Difficulty: Easy
| a. | The FASB is independent of the AICPA. |
| b. | The size of the board is much smaller. |
| c. | The FASB has broader representation. |
| d. | The FASB is the primary board for the development of generally accepted accounting principles. |
| e. | Members of the FASB serve on a full-time basis. |
ANS: D 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: 3 min.
16. The Accounting Principles Board issued Opinions between:
| a. | 1959-1973. |
| b. | 1939-1959. |
| c. | 1973-present. |
| d. | 1966-1976. |
| e. | None of the answers are correct. |
ANS: A PTS: 1 DIF: Difficulty: Easy
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: Knowledge NOT: Time: 1 min.
17. The Financial Accounting Standards Board has issued statements between:
| a. | 1960-1973. |
| b. | 1939-1959. |
| c. | 1973-present. |
| d. | 1966-1976. |
| e. | None of the answers are correct. |
ANS: C PTS: 1 DIF: Difficulty: Easy