Presently, the dominant body in the development of accounting principles is the?

a.American Institute of Certified Public Accountants (AICPA)

b.American Accounting Association (AAA)

c.Financial Accounting Standards Board (FASB)

d.Institute of Management Accountants (IMA)

2 Answers

  • 1 decade ago
    Favorite Answer

    The answer is C Financial Accounting Standards Board. Other organizations also set the accounting principles, but they are not listed among the answers. Those organizations are:

    Internal Revenue Service. However they only set rule for tax returns, not financial statements.

    Securities and Exchange Commission.

  • Anonymous
    1 decade ago

    c is obviously the correct answer......

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