acct304 midterm exam
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midterm
Question 1. Question
: (TCO 1) Which of the following has the authority to set accounting standards
in the United States?FASB
IRS
SEC
AICPA
: 1
Question 2. Question : (TCO 2) SFAC No.5 focuses on:
objectives of financial reporting.
qualitative characteristics of accounting information.
Recognition a
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