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The Financial Accounting Standards Board: a. has issued a series of pronouncements entitled Statements on Auditing Standards. b. was the forerunner of the current Accounting Principles Board. c. is the arm of the Securities and Exchange Commission responsible for setting financial accounting standards. d. is appointed by the Financial Accounting Foundation.
Weegy: The Financial Accounting Standards Board: c. is the arm of the Securities and Exchange Commission responsible for setting financial accounting standards. User: A common set of accounting standards and procedures are called: a. financial accounting standards. b. generally accepted accounting principles. c. objectives of financial reporting. d. statements of financial accounting concepts. Weegy: A common set of accounting standards and procedures are called: b. generally accepted accounting principles. (More)
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Asked 7/29/2013 7:20:12 PM
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The primary purpose of the balance sheet is to reflect: a. the firm's potential for growth in stock values in the stock market. b. items of value, debts, and net worth. c. the value of items owned by the firm. d. the status of the firm's assets in case of forced liquidation of the firm.
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Updated 7/29/2013 10:55:08 PM
5 Answers/Comments

The primary purpose of the balance sheet is to reflect: b.ITEMS of VALUE, debtsDEBTS, andNET WORTH.

Added 7/29/2013 8:25:45 PM
C
Added 7/29/2013 10:36:49 PM
B
Added 7/29/2013 10:37:20 PM
items of value, debts, and net worth.
Added 7/29/2013 10:38:41 PM
Please don't delete answers and please don't post duplicate answers.
Always answer in a sentence the restates the question and provide a source to confirm the accuracy of the answer.

Please review the rules
Added 7/29/2013 10:55:08 PM
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