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lara [203]
3 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]3 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

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A buyer with a 15-year, $250,000 loan at a 5.5% interest rate has a monthly principal and interest payment totaling $2,042.71. W
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<u>Given:</u>

Loan amount = $250000

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<u>To find:</u>

Total amount of interest

<u>Solution:</u>

The total number of months in 15 years = 15\times12=180\text{ years }

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\text{Total interest paid = Total pay-backs - Loan amount}

On plugging-in the values in the above formula we get,

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<h3>How is the unemployment rate calculated?</h3>

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ABC Machine
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