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Accounting

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The mission of the Securities \& Exchange Commission (SEC) is to develop generally accepted accounting principles True or False Independent auditors are advisors who analyze financial statements and other economic information to formulate forecosts and stock recornmendations. True or faise The Securities \& Exchange Commission (SEC) oversees the work of the Financial Accounting Standards Board (FASB) True or False The Public Company Accounting Oversight Board (PCAOB) sets auditing standards for independent auditors of public componies. True or False The primary responsibitity for the information in a corporation's financial statements lies with the chief executive officer (CEO) and the chief financial officer (CFO). True or False Financial analysts utilize a company's financial reports to assist them in making earnings forecasts and earnings per share projections. True or False The form 10Q contains an unaudited set of quarterly financial statements. True or False Gains and losses on sales of investments are reported on the income statement as a component of income from operations. True or False Inventories are reported on the balance sheet as a current asset. True or False

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