Question

Agency with both the power and the responsibility for setting accounting and reporting standards for publicly traded companies in the U.S.a. Trueb. False

Answer 1

Answer and explanation:

The Securities and Exchange Commission or SEC is an independent agency of the United States government. The mission of the SEC is to enforce securities laws as passed by Congress. These laws promote fair, orderly and efficient securities markets, protect investors from abuses, and help maintain a well-functioning economy. The SEC is also responsible for setting accounting and reporting standards for companies whose securities are publicly traded.