The following data pertains to JollyFolly, Inc., a manufacturer of candy (dollar amounts in
Interest-Bearing Debt (Market value)
Marginal Income Tax Rate
Market Equity Beta
1. The SEC relies on the AICPA and FASB to regulate the accounting profession and develop and enforce accounting standards. True 2. Currently, both U.S. GAAP and the International Financial Reporting Standards are acceptable for international use. True 3.