1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lara [203]
2 years ago
5

True or false: The SEC has delegated the primary responsibility for setting accounting standards to the AICPA.

Business
1 answer:
denis23 [38]2 years ago
6 0

Does the SEC have the power to set accounting standards. The SEC has delegated the primary responsibility for setting accounting standards to the AICPA is a False statement.

<h3>What is the SEC position in the financial reporting process?</h3>
  • The  SEC position is known to be a Commission that has been empowered with the authority under the securities laws of the United States.

They are empowered  to set accounting standards to be followed by all public firms and they are known to also have the power to make sure that those standards are followed.

Conclusively, The SEC delegated accounting standard setting is said to be to FASB.

Learn more about SEC  from

brainly.com/question/8002159

You might be interested in
________ is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the mar
tensa zangetsu [6.8K]

Answer:

Economic efficiency

Explanation:

Economic efficiency is when the allocation of resources in an economy is fully optimal and benefits all economic agents. It is when nothing can be improved without putting another at a disadvantage.

It is when there's equilibrium in the economy.

I hope my answer helps you

4 0
3 years ago
The list price on Boyton's catalog indicated that product A sells for $3,000, with a trade discount of 5%. Boyton sells the good
Alexeev081 [22]

Answer:

B) $2,850

Explanation:

1: Find the discount: $3,000*5% = $150

2: Subtract the discount: $3,000 - $150 = $2,850

4 0
3 years ago
How does the law of diminishing marginal utility relate to law of demand?
HACTEHA [7]

Answer:

Explanation:

The law of diminishing marginal utility helps to explain the negative slope of the demand curve and the law of demand.If the satisfaction obtained from a good declines, then buyers are willing to pay a lower price, hence demand price is inversely related to quantity demanded, which is the law of demand.

3 0
3 years ago
The balance sheet data of Corinne Company at the end of 2025 and 2024 follow: 2025 2024 Cash $50 $70 Accounts receivable (net) 3
dezoksy [38]

Answer:

Corinne Company

Investing Activities Section of the Statement of Cash Flows:

Equipment sales         $12

Equipment bought   ($58)

Net cash used          ($46)

Explanation:

a) Data and Calculations:

Balance Sheet of Corinne company at the end of 2025 and 2024:

                                                 2025        2024

Cash                                           $50          $70

Accounts receivable (net)         320          270

Buildings and equipment         200           150

Accumulated depreciation

- buildings and equipment      (36)            (16)

Land                                          180              80

Totals                                      $714         $554

Accounts payable                  $180          $146

Notes payable- bank long term  0             80

Mortgage payable                     60               0

Common stock, $10 par           418            318

Retained earnings                     56              10

Totals                                      $714         $554

b) other information:

Land and Common Stock exchange

Equipment sold for $12 (cost $10 and book value $8)

Cash dividends $20

c) Equipment account

Beginning balance 150

Equipment sold        -8

Balance                   142

Closing balance    200

Purchase of new     58 (200 - 142)

5 0
3 years ago
In general, it is a bad move for a company to produce more of a good or service if, by doing so,a. marginal cost exceeds margina
scoray [572]

Answer:

The correct option here is A) marginal cost exceeds marginal revenue

Explanation:

When a company is producing more goods and services, it becomes a bad move because at this point company's marginal cost starts exceeding the marginal revenue , which means with each additional units a company is producing it is losing profit on that unit, so it is better for a company to produce less and try to find that level of output where its marginal cost and revenue are equal because at that level, company would be able to make optimal profits.

7 0
3 years ago
Other questions:
  • Which one of the following statements is correct? A. A $20 dollar bill is a gold certificate. B. A $20 dollar bill is a Treasury
    6·1 answer
  • River Enterprises has ​$505 million in debt and 22 million shares of equity outstanding. Its excess cash reserves are $14 millio
    15·1 answer
  • Suppose a particular stock just paid a dividend of $2.50 and expects to grow the dividend by 4% per year, indefinitely. What is
    9·1 answer
  • In an economy with equilibrium prices and quantities, producers are using their resources in a(n) _____ way.
    10·2 answers
  • A British Tran jet costs $ 42,000,000 and is expected to fly 350,000,000 miles during its 12​-year life. Residual value is expec
    12·1 answer
  • An area where companies can locate free of certain local, state, and federal taxes and restrictions is _____.
    7·2 answers
  • Test markets are which of the following type of experiment? a. none of these b. controlled experiment c. exploratory experiment
    9·1 answer
  • At the beginning of the month, the Painting Department of Skye Manufacturing had 20,000 units in inventory, 70% complete as to m
    12·1 answer
  • A farmer plans to plant two crops, A and B. The cost of cultivating Crop A is $40/acre whereas the cost of cultivating Crop B is
    5·1 answer
  • Small dollar value purchase orders can be efficiently and effectively managed by?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!