Which of the following is the ruling body that makes most of the country’s accounting rules approved by the Securities and Exchange Commission (SEC)?

Question

IASB: International Accounting Standards Board

IFRS: International Financial Reporting Standards

FASB: Financial Accounting Standards Board

PCAOB: Public Company Accounting Oversight Board

Answer 1

The ruling body that makes most of the country’s accounting rules approved by the Securities and Exchange Commission (SEC) is the FASB: Financial Accounting Standards Board.