Question

Which of the following are the accounting standards issued by the FASB? Multiple Choice Accounting Principal Board Opinions Accounting Research Board Bulletins O Accounting Standards Updates Help Required information Accounting Principal Board Opinions Accounting Research Board Bulletins G Accounting Standards Updates Conceptual Framework

Answer 1

The FASB issues Accounting Standards Updates as the official source of authoritative GAAP, which are not to be confused with the outdated opinions and bulletins released by precursor bodies.

Step-by-step explanation:

The Financial Accounting Standards Board (FASB) is responsible for the establishment of accounting standards in the United States. The correct answer to the question, "Which of the following are the accounting standards issued by the FASB?" is Accounting Standards Updates. The FASB issues Accounting Standards Updates (ASUs) to communicate changes to the FASB Codification, which includes all authoritative Generally Accepted Accounting Principles (GAAP).