Accounting Principles and Business Transactions Quiz

Operations of the business entity

Events or conditions that directly change an entity's financial condition (correct)

Changes in business credit rating

Personal activities that are related to the business

Generally Accepted Accounting Principles (GAAP)

Financial Accounting Standards Board (FASB) (correct)

Securities Exchange Commission (SEC)

Business Entity Concept

To regulate personal activities

To develop accounting principles

To change an entity's financial condition

To allow investors and users to compare different companies (correct)

<p>Financial Accounting Standards Board (FASB)</p> Signup and view all the answers

<p>Regulating the securities industry</p> Signup and view all the answers