true or false questions

7:52 a LTE Done Assignment 1_fa043ffcf8e573... 10. Statements of Financial Accounting Concepts set forth fundamental objectives and concepts that are used by the FASB in developing future standards of financial accounting and reporting. 11. The AICPA created the Accounting Principles Board in 1959 12. GAAP. The FASB's Codification creates a new set of 13. The AICPA's Code of Professional Conduct requires that members prepare financial statements in accordance with generally accepted accounting principles. GAAP is a product of careful logic or empirical findings and is not influenced by political action. 15. The Public Company Accounting Oversight Board has oversight and enforcement authority and establishes auditing and independence standards and rules. 16. The expectations gap is due to the difference between what the public thinks accountants should do and what accountants think they can do 17. Financial reports in the early 21st century did not provide any information about a company's soft assets (intangibles). 18. Accounting standards are now less likely to require the recording or disclosure of fair value information. 19. U.S. companies that list overseas are required to use International Financial Reporting Standards, issued by the International Accounting Standards Board. 20. Ethical issues in financial accounting are govemed by the AICPA EXERCISES