Which of the following statements is correct?
a. The Financial Accounting Standards Advisory Council as well as the Private Company Council provide advisory input to the FASB on standard-setting issues.
b. The Financial Accounting Foundation (FAF) is the parent organization to the Financial Accounting Standards Board (FASB), and its primary responsibility is accounting standard setting in the United States.
c. The Emerging Issues Task Force (EITF) members are appointed by the Financial Accounting Foundation (FAF).
d. The Securities and Exchange Commission (SEC) doesn't have any input into the Emerging Issues Task Force (EITF) agenda.
Ans: a. The Financial Accounting Standards Advisory Council as well as the Private Company Council provide advisory input to the FASB on standard-setting issues.
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