Which of the following statement is true in regards toaccounting?

	a.	Accounting standards are no longer evolving because the U.S. hashad an established capital market system with formal accountingstandards since the early 1930s.
	b.	The AICPA developed the conceptual framework and issuesStatements of Financial Accounting Concepts that address currentand future accounting problems
	c.	The U.S. is not formally adopting international accountingstandards, however; the U.S. standard setter still works informallywith its London-based counterpart in cooperative efforts whensetting accounting standards
	d.	The Accounting Principles Board and the Committee for AccountingPractices preceded the FASB as a standard setter and issuer ofaccounting principles..
	e.	All of the statements are true except d is true Evaluate the veracity of the following statements to determinewhich is not true. a. Preparing accounting information on a timely basis is a key goalof financial reporting in the U.S. b. Recording transactions before cash is received for services orpaid for purchases would be misleading to the users of financialaccounting information c. A certified public accountant may obtain licensure in any Stateafter successfully passing four parts of a uniform exam, obtaininga requisite amount of experience, and competing 120 semester hoursof college credit d. Cost accounting unlike financial accounting is a subset ofmanagerial accounting e. an annual report contains management's discussion and analysisof financial results and the auditor's opinion on the financialstatements