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Financial accounting standard-setting in the United States. A. is based solely on research and empirical findings. B. is democratic in the sense that a majority
Financial accounting standard-setting in the United States. A. is based solely on research and empirical findings. B. is democratic in the sense that a majority of accountants must agree with a standard before it becomes enforceable. C. is a legalistic process based on rules promulgated by governmental agencies. D. can be described as a social process which reflects political actions of various user groups as well as a product or research and logic
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