QuestionQ166

VerifiedLegal, Risk and Compliance

Which organization creates and maintains GAAPs?

Explanation

The American Institute of Certified Public Accountants (AICPA) is the only accounting-profession organization among the choices and is the likely intended answer in legacy material. Current authoritative U.S. nongovernmental GAAP is established and maintained by the Financial Accounting Standards Board (FASB), so the item’s choices are technically outdated or incomplete.

Learn more

Community Discussion

No comments yet. Be the first to start the discussion!