Question $9(2$ points$)$

The major distinction between the Financial Accounting Standards Board $($FASB$)$ and

its predecessor, the Accounting Principles Board $($APB$),$ is:

the FASB issues exposure drafts of proposed standards.

a majority of the members of the FASB are CPAs drawn from public practice.

all members of the FASB possess extensive experience in financial reporting.

all members of the FASB are fully remunerated, serve full time, and are

independent of any companies or institutions.