Question

When formulating accounting principles, the Securities and Exchange Commission’s role is A : consistently secondary. B : nonexistent. C : sometimes primary and sometimes secondary. D : consistently primary.

Answer 1

Answer:

C: sometimes primary and sometimes secondary.

Explanation:

When formulating accounting principles, the Securities and Exchange Commission’s role is sometimes primary and sometimes secondary.Securities and Exchange Commission has the responsibility to develop accounting standards which has to be enforced by public companies and they also consistently looked to the private sector for assistance in it. The securities and exchange commission retains the authority to establish the standards which formulate by them.