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The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles. It is true that they are both governmental
The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles. It is
true that
they are both governmental agencies.
the SEC is a private organization of accountants.
the SEC and FASB rarely cooperate in developing accounting standards.
the SEC often mandates guidelines when no accounting principles exist.
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