3 years ago

The authoritative standards-setting body that focuses on both internal and external financial reporting is the

1 answer:

6 0

<span>The Financial Accounting Standards Board (FASB) sets the rules for both types of financial reporting. Unlike the SEC, which is a governmental body, the FASB is an independent, non-profit company that sets standards for companies to make reporting that will best be used to make public decisions.</span>

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Option (b) is correct.

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Sale of share = NQOs received × No. of shares × Selling price per share

= 10 × 8 × $22

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= Sale of share - Basis

= $1,760 - [NQOs received × No. of shares × Selling price per share at $15]

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= $1,760 - $1,200

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= $84

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