Business, 04.09.2019 21:30 penacesar18p9jrdh

Which of the following statements regarding standards contained in the fasb accounting standards codification (asc) is true?
(a) they were created in 2009 when the asc was created and did not exist prior to that time.
(b) they have to be approved by the sec before they become effective.
(c) they apply to financial reporting by all u. s. companies.
(d) they have the force of law, and failure to follow them can be prosecuted.

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