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View Attempt 3 of 4  Title: Review Exam Started: February 16, 2008 1:29 PM Submitted: February 16, 2008 2:59 PM Time spent: 01:30:36  Total score: 38/40 = 95%   Total score adjusted by 0.0  Maximum possible score: 40  1.      Accounting principles are "generally accepted" only when:     Student Response Correct Answer         2.      In the House of GAAP, is the following on the highest level of authoritative status (meaning among the  most authoritative)?  Option FASB Technical  Bulletin FASB Statement of  Financial Accounting  Standards FASB  Interpretation FASB Statement of Financial  Accounting Concepts A YES YES YES YES B YES YES YES NO C NO YES NO NO D NO YES YES NO     Student Response Correct Answer a.  A    b.  B    c.  C    d.  D         3.   
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  The following published documents are part of the "due process" system used by the FASB in the  evolution of a typical FASB Statement of Financial Accounting Standards:  1. Exposure Draft  2. Statement of Financial Accounting Standards  3. Discussion Memorandum  The chronological order in which these items are released is as follows:     Student Response Correct Answer a.  1,2,3    b.  1,3,2    c.  2,3,1    d.  3,1,2        
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