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3 value: 15.00 points The Financial Accounting Standards Board is responsible for establishing O generally accepted accounting principles the American Institute of Certified Public Accountants O the Securities and Exchange Commission O the code of professional conduct for accountants
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Generally accepted accounting principles

FASB is an independent body whose main objective is to establish and improve Generally Accepted Accounting Principles (GAAP). The Securities and Exchange Commission and American Institute of Certified Public Accountants recognized the standards issued by FASB in the preparation of financial statements. The main objective of FASB is to improve corporate accounting practices by improving guidelines for the preparation of accounting reports, identifying and resolving issues in a timely manner and creating the uniform standards across the financial markets.

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