The Financial Accounting Standards Board (FASB) is a private organization established to improve accounting standards and financial

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The Financial Accounting Standards Board (FASB) is a private organization established to improve accounting standards and financial reporting. The FASB conducts extensive research before issuing a “Statement of Financial Accounting Standards,” which represents an authoritative expression of generally accepted accounting principles.
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Choose About FASB.
Instructions
Answer the following questions.
(a) What is the mission of the FASB?
(b) How are topics added to the FASB technical agenda? (Hint: See Project Plans in Our Rules of Procedure.)
(c) What characteristics make the FASB’s procedures an “open” decision-making process?

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