To Preserve Independence and Impartiality, the Financial Accounting Standards Board

Multiple Choice

To preserve independence and impartiality, the Financial Accounting Standards Board (FASB) members are required to:

A) serve the board until their retirement.
B) sever all ties with any firms or institutions they served prior to joining the board.
C) sign a non-disclosure agreement and hand over all information of their previous companies to the board.
D) pass a rigorous two-day, four-part examination on major accounting concepts.