1. Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions?

Group of answer choices

FASB (Financial Accounting Standards Board)

D. FDIC (Federal Deposit Insurance Corporation)

IRS (Internal Revenue Service)

SEC (Securities and Exchange Commission)

2. Which of the following breaks down company financial information into specific time spans, and can cover a month, quarter, half-year, or full year?

Group of answer choices

accounting period

monthly period

fiscal period

yearly period 3. Which type of adjustment occurs when cash is either collected or paid, but the related income or expense is not reportable in the current period?

Group of answer choices

deferral

estimate

cull

accrual