1 The FASB is composed of which ONE of the following

a. Senior SEC staff members

b. People from a variety of business-related backgrounds

c. CPAs appointed by the AICPA

d. Financial accounting specialists appointed by the U.S. Congress

e. Representatives of each of the Big 4 accounting firms

2. The statement of cash flows provides a detailed explanation of the year-to-year change in one balance sheet account. Which balance sheet account?

a. Accumulated other comprehensive income

b. Paid-in capital

c. Cash

d. Retained earnings

e. Accumulated depreciation