SEC exerts a continuing influence on the establishment of accounting standards. It does so primarily by:
A)Monitoring the development of GAAP within the accounting profession and using its stature to influence that development.
B)Exercising its statutory authority to prescribe external financial reporting requirements.
C)Allying with the AICPA to lobby the efforts of the FASB.
D)Providing auxiliary funding to the FASB.

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Answer AMonitoring the development of GAAP within the accounting profession an... View the full answer