Question: Which statement is not true? 1. The Securities and Exchange Commission is a source of some generally accepted accounting principles. 2. The American Institute of

Which statement is not true?

1. The Securities and Exchange Commission is a source of some generally accepted accounting principles.

2. The American Institute of Certified Public Accountants is a source of some generally accepted accounting principles.

3. The Internal Revenue Service is a source of some generally accepted accounting principles.

4. The Financial Accounting Standards Board is a source of some generally accepted accounting principles.

5. Numbers 1, 2, and 4 are sources of generally accepted accounting principles.

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