Which of the following is a correct reference to a Subsection in the Codification? O a. ASC FASB 330-10-30-1 O b. 330-10-30-1 OC. FASB ASC 330-10-30-1 O d. ASC 330-10-30-1 The FASB developed the Codification to achieve all of the following goals except to O a eliminate all pronouncements prior to 1983. O b. create a codification research system that is up to date. Ocensure the codified content accurately represents all authoritative U.S. GAAP. O d. simplify user access by codifying all authoritative U.S. GAAP into one database. oblem 10 of 12 The one with a perse the need to contact detase. The op O universal market exchange O SEC approval Os internationally comparable financial information Od acceptance of US GAAP worldwide What is the Securities and Exchange Commission's current role in accounting standard setting? The SEC has mandated that the information communicated to external users in financial reporting must be based on government regulations only The SEC delegates its authority to private standard-setting bodies within the accounting profession Oc. The SEC frequently uses its legal authority to prescribe accounting standards O . The SEC does not have the legal authority to prescribe accounting standards The Financial Accounting Foundation's responsibilities do not include O a. appointing members to the FASB. O b. overseeing the effectiveness of the standard-setting process. O c. overseeing the efficiency of the standard-setting process. O d. setting financial reporting standards