Sidney Is a Member of the Financial Accounting Standards Board

Multiple Choice

Sidney is a member of the Financial Accounting Standards Board (FASB) and is entrusted with the responsibility of establishing accounting principles in the United States. As a member of the board, Sidney:

A) is to serve a seven-year term and cannot be reappointed to serve another term.
B) must sever all ties with any firms or institutions that she served prior to joining the board.
C) is responsible for directing the Securities and Exchange Commission to enforce the accounting standards.
D) must pass a rigorous two-day, four-part examination to be promoted as a certified fraud examiner.