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Question 4 The SEC has the authority to set accounting standards for A) All companies listed...

Question 4

The SEC has the authority to set accounting standards for

A) All companies listed on the securities exchange as 1929

B) All companies as of the passing of the Sarbanes-Oxley Act

C) US Companies, however the SEC delegates this authority to FASB

D) Only those companies that have both US and international subsidiaries

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Answer #1

Solution:

The SEC has the authority to set accounting standards for "US Companies, however the SEC delegates this authority to FASB"

Hence option C is correct.

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