The Financial Accounting Standards Boards

1. The Financial Accounting Standards Board a. Has 7 members appointed by the Financial Accounting Foundation. b. Appoints the 7 members of the Financial Accounting Foundation. c. Is a task force appointed by the Financial Accounting Standards Advisory Council. d. Has 10 members appointed by the Private Company Council. 2. The members of the Financial Accounting Standards Board (FASB) a. Are all board members of major corporations. b. Have no other organizational ties. c. Are volunteers who serve in their spare time. d. Represent a narrow-cross section of interests