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The FASB and the SEC are standard-setting bodies responsible for making GAAP?


TRUE OR FALSE

is said true but just wanted to make sure!

538 day(s) ago

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brucechangcpa 		I'd say true for the following reasons.

FASB promulgates accounting statements in accordance with US GAAP.

SEC promulgates rulings on financial reporting based on FASB guidelines.

Posted 538 days ago

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