Question: 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

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.

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

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