Question

The Financial Accounting Foundation A. works with the Financial Accounting Standards Advisory Council to provide information to interested parties on financial reporting issues. B. oversees the operations of the AICPA. C. oversees the operations of the FASB. D. provides information to interested parties on financial reporting issues.

Answer 1

The answer is: C) oversees the operations of the FASB.

Step-by-step explanation:

The Financial Accounting Foundation (FAF) is an independent and private organization that is responsible for establishing and improving financial accounting and operating standards. It is also responsible for educating its members about any changes in the accounting and operating standards.

The FAF is responsible for the oversight, administration and financing of the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB).