Briefly describe the following: a. Committee on Accounting Procedures b. Committee on Accounting Terminology c. Accounting Principles Board d. Financial Accounting Standards Board

Briefly describe the following:

a. Committee on Accounting Procedures

b. Committee on Accounting Terminology

c. Accounting Principles Board

d. Financial Accounting Standards Board

Expert Solution

a.

A committee of the AICPA that played an important role in the determination of generally accepted accounting principles in the United States between 1939 and 1959.

b.

A committee of the AICPA that played an important role in the defining of accounting terminology between 1939 and 1959.

c.

An AICPA board that played a leading role in the development of generally accepted accounting principles in the United States between 1959 and 1973.

d.

The Board that has played the leading role in the development of generally accepted accounting principles in the United States since 1973.

Junaid answered 8 months ago

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