Which of the Following Statements Is True of the Generally

Multiple Choice

Which of the following statements is true of the generally accepted auditing standards (GAASs) ?

A) These standards are set by the International Accounting Standards Board (IASB) .
B) The International Accounting Standards are replacing GAAS.
C) They set forth rules for how corporations and accounting firms declare accounts on the corporation's financial statements.
D) They require sufficient evidence to afford a reasonable basis for issuing an opinion on the financial statements under audit.