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5. Which of the following is true about the Securities and Exchange Commission (SEC)? a. The SEC has the power to set accounting standards in

5. Which of the following is true about the Securities and Exchange Commission (SEC)?

a. The SEC has the power to set accounting standards in the United States.

b. The SEC does not have any enforcement powers.

c. The SEC determines auditing standards for those who audit public companies.

d. The SEC relies on fees collected from publicly traded companies to operate.

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