Responsibility for promulgating generally accepted accounting principles for
nongovernmental, not-for-profit entities rests with the FASB and was most clearly established
A) In the 1930s.
B) When the FASB was created in 1974.
C) When the GASB was created in 1984.
D) In the AICPA's Statement of Auditing Standards No. 69 (hierarchy of GAAP) in 1992.
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