Final answer:
The FASB is the public-sector organization responsible for setting accounting standards in the United States.
Step-by-step explanation:
The Financial Accounting Standards Board (FASB) is the public-sector organization responsible for setting accounting standards in the United States. It was established in 1973 and operates under the auspices of the Financial Accounting Foundation (FAF). FASB's mission is to establish and improve financial accounting and reporting standards to provide useful information to investors and other users of financial statements. FASB sets standards through a transparent and inclusive process that includes public input and considers the needs of various stakeholders.