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Question Help %) E1-4 (book/static Joe Choi, a history major, is considering transferring to your school of business to study accounting Joe is having some doubls because he is uncertain if there is any room for history in accounting Read the requirements. The Securities and Exchange Commission (SEC) initially had the power to promulgate accounting standards that all publicty-traded firms must follow. However, this power was delegated to the private sector (c) Which organizations were delegated the authority to set standards? Comment on the types of standards issued and concerns with the standard-setting process under each organization was formed in 1939. The organization's purpose was to reduce the number of accounting methods used in practice. During is tenure, it The Committee on Accounting Procedures (CAP) produced 51 standards, referred to as Accounting Research Bulletins (ARBs) Accounting Principles Board (APB). The APB's purpose was to lissue prono Opinions. did not The organization accomplished its purpose and was replai d in 1959 by the The pronouncemants of the APB wore known as uncements on accounting standards needed to meet existing and emerging problems in financial reporting Second, the board part-time, were not CPA's and were independent The APB was criticized for two reasons. First, the board members were part-ime, were Rather, the Board simply responded to long existing, controversial accounting evelop Click to select your answer(s) and then click Check Answer Clear All 47 PM Question Help %) E1-4 (book/static Joe Choi, a history major, is considering transferring to your school of business to study accounting Joe is having some doubls because he is uncertain if there is any room for history in accounting Read the requirements. The Securities and Exchange Commission (SEC) initially had the power to promulgate accounting standards that all publicty-traded firms must follow. However, this power was delegated to the private sector (c) Which organizations were delegated the authority to set standards? Comment on the types of standards issued and concerns with the standard-setting process under each organization was formed in 1939. The organization's purpose was to reduce the number of accounting methods used in practice. During is tenure, it The Committee on Accounting Procedures (CAP) produced 51 standards, referred to as Accounting Research Bulletins (ARBs) Accounting Principles Board (APB). The APB's purpose was to lissue prono Opinions. did not The organization accomplished its purpose and was replai d in 1959 by the The pronouncemants of the APB wore known as uncements on accounting standards needed to meet existing and emerging problems in financial reporting Second, the board part-time, were not CPA's and were independent The APB was criticized for two reasons. First, the board members were part-ime, were Rather, the Board simply responded to long existing, controversial accounting evelop Click to select your answer(s) and then click Check Answer Clear All 47 PM

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