1. Which one of the following has statutory authority to determine accounting rules for companies whose securities are owned by the general public?

Multiple Choice

A. American Institute of Certified Public Accountants

B. State Boards of Accountancy

C. Securities and Exchange Commission

D. Financial Accounting Standards Board

2. The amounts of executive compensation and bonuses are often determined by:

Multiple Choice

A. auditors recommendations.

B. evaluations by subordinates.

C. company compensation contracts.

D. industry guidelines.