The Financial Accounting Standards Board is:

Select one:

a. Responsible for the review and audit of federal income tax returns.

b. Primarily concerned with the preparation of the annual federal budget.

c. A private group that conducts research and determines generally accepted accounting principles.

d. A government agency with legal authority to approve or disapprove the financial statements of corporations that sell their securities to the public.

c. Customers.

d. Trade associations and labor unions.