Homework: Chapter 1 Homework Say Score: 0 of 1 pt 4 of 10 (3 complete) HW Score: 30 % , 3 of 10 p BE1-7 (book/static) Question Help Brefly explain how the Snancial statements preparers, users, and other inerested parties are inwolved in the standard selling process for U.S. GAAP (Select al that apply) A. Aner an exposure drat is issued standard semers sometimes hold rounmables discussions, or public fonums, which inclode hese vanious partes- When an exposure dr at is 15sued, interested parties are invited to prepare comment letters B C. The Financial Accoumng Foundation (AF) idemnes a financial reporing ssue based on recommendations trom anaysts, govemment agencies or other market participaants The FAF Charperson then decides whether to add the issue to the technical agenda D. When delberaing on ssaing a final standard. the standard seters consider the mput obtained from outside parbes at these vanous stages in the standard setting process E. Once an issue is added to the agenda, stlandard setters usualily have pucic meetings where they seek comment from these interested partes F. Accounting standard setters fotow a process to set accounting standards which inwolves considerng the input of financial statement preparers, users and other inlerested parbes at several stages Standard setters consider input from these parties to idennty financial reporting issues to pursuc G. Once a decision is reached to issue a new standard, an Accounting Standards update (ASU) nsued tor consideration The ASU requees a majonty vote ot interested partes, ncluding tinancial statement preparers, financial statement users and auditors, and others for the standard to be enacied