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What was the significance of the controversy in 1977 over the appropriate accounting principles to be used by oil- and gas-producing companies? Multiple Choice Companies
What was the significance of the controversy in 1977 over the appropriate accounting principles to be used by oil- and gas-producing companies?
Multiple Choice
- Companies refused to follow the SEC's dictates.
- Partners of a major accounting firm were indicted on criminal charges.
- Several major lawsuits resulted.
- The SEC overruled the FASB on its handling of this matter.
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