While formally the SEC is charged with the responsibility for establishing accounting principles to be followed in the preparation of SEC filings, the impact of the SEC generally has been

A$)$ in its assistance to Congress with the development of tax law.

B$)$ in guiding the development of stock exchanges.

C$)$ ineffective in controlling foreign corporations and investors.

D$)$ in its informal review and approval of standards developed in the private sector prior to their release.