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1. Explain from where the securities and exchange commission receives its authority 2. Describe the official role of the securities and exchange commission in the

1. Explain from where the securities and exchange commission receives its authority

2. Describe the official role of the securities and exchange commission in the development of financial accounting theory and practices.

3. Discuss the interrelationship between the securities and exchange commission and teh financial accounting standards board with respect to the development and establishment of financial accounting theory and practices.

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