Which of the following statements are true about the standard$-$setting process? Select all that apply.

Which of the following statements are true about the standard$-$setting process? Select all that apply.

The FASB is an independently funded entity.

The SEC remains completely separate from the FASB and does not influence accounting standards.

The general public never becomes involved in the standard$-$setting process.

The Legislative Branch of the U$.$S$.$ government $($i$.$e$.,$ Congress$)$ has proposed, and in some cases passed$)$ legislation related to accounting standards.