For each responsibility a through j$,$ indicate which entity is primarily responsible for that duty

SEC $($Securities and Exchange Commission$)$

AICPA $($Accounting Institute of Certified Public Accountants$)$

FASB $($Financial Accounting Standards Board$)$

The following responsibilities relate to the development of GAAP.

a$.$ Issues Accounting Standard Updates that are included in the Codification. Answer $1$

b$.$ Arranged the committees that developed GAAP from $19391973.$ Answer $2$

c$.$ Primarily responsible for the development of GAAP since $1973.$ Answer $3$

d$.$ Holds the authority to develop and enforce GAAP but has delegated the development Answer $4$

SEC

of GAAP to the private sector.

e$.$ Created the Committee on Accounting Procedure and the Accounting Principles Board. Answer $5$

f$.$ Includes $7$ board members who serve the board on a full$-$time basis, with renewable Answer $6$

$5-$year terms.

g$.$ Primarily responsible for conclusions reached by the Emerging Issues Task Force. Answer $7$

h$.$ Mission is to ensure that the investor community has the information needed to make Answer $8$

decisions on resources allocated to investments.

i$.$ Responsible for developing the Uniform CPA Examination. Answer $9$

j$.$ Develops or improves GAAP through a transparent process that often involves public Answer $10$

meetings, public comment solicitation, and public hearings.