Please answer problem #4, SHOWING ALL WORK IN ALL SECTIONS ACCORDINGLY. Thank you!

Which statement is false concerning accounting principles in the United States? The Public Company Accounting Oversight Board determines auditing standards. The primary accounting standard-setting body in the U.S. is the Financial Accounting Standards Board. The International Accounting Standards Board issues accounting standards that must be followed by all companies that engage in international business, O The Securities and Exchange Commission oversees U.S.financial markets and accounting standard-setting bodies