In establishing financial accounting standards, two basic premises of the FASB are $(1)$ The FASB should be responsive to the needs and viewpoints of the entire economic community, not just the accounting profession. $(2)$ It should operate in full view of the public through a "due process" system that gives interested persons ample opportunity to make their views known.

To ensure the achievement of these goals, the FASB has developed a six$-$step process for the development of a typical FASB standard. Using numbers $1$ to $6,$ display the order of the six$-$step process for the development of a typical FASB standard by placing a number next to each of the stated tasks below.

The Board evaluates the research and public response and issues an exposure draft.

Topics are identified and placed on the Board's agenda.

The final standard is then issued.

Research and analysis are conducted, and preliminary views of pros and cons are issued.

A public hearing on the proposed standard is held.

The Board evaluates the responses and changes the exposure draft, if necessary.

The Board evaluates the research and public response and issues an exposure draft.

Topics are identified and placed on the Board's agenda.

The final standard is then issued.

Research and analysis are conducted, and preliminary views of pros and cons are issued.

A public hearing on the proposed standard is held.

The Board evaluates the responses and changes the exposure draft, if necessary.