Each of the following is true of the Securities and Exchange Commission except that O a. the SEC requires registrants to adhere to GAAP and is responsible for enforcement. O b. the body that has the power to prescribe the accounting practices and standards to be employed by companies that fall under its jurisdiction Oc. the body to which companies listed on a stock exchange are required to submit their financial statements (file 10-K) Od the FASB relies on the SEC to develop accounting standards. Which of the following is not part of the closing process? Oa. close revenue accounts to Income Summary O b. close expense accounts to Income Summary Oc close Income Summary to Retained Earnings Od. close dividends account to Income Summary