Authoritative Support Determine whether the Securities and Exchange Commission (SEC) or Financial Accounting Standards Board (FASB) normally has responsibility for each of the following:

a. Establishing the conditions that must be met before research and development costs can be recorded as an asset.

b. Monitoring brokerage firms to be sure they follow appropriate procedures when trading securities.

c. Establishing accounting procedures to be used in determining the amount to be reported as pension costs.

d. Establishing the procedures to be followed in informing the public before a new bond issue is publicly traded.

e. Establishing the conditions under which a new and unusual form of sales agreement can be treated as a sale at the time it is signed.

f. Determining which financial statements must be prepared for filings under the 1934 Securities and Exchange Act.