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Which organizations is responsible for setting auditing

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Reference no: EM132777086

Problem 1: Which one of the following business decisions will most likely require financial information?

a. Petra's Restaurant is attempting to sell its stock to the public.

b. The labor union representing Winn's Fitness Spa employees is negotiating a pay raise as part of a new labor ag

c. The National Bank is reviewing the loan application from Petra's Restaurant.

d. All of these choices are correct.

Problem 2: Which of the following organizations is responsible for setting auditing standards followed by public accounting firms in conducting independent audits of financial statements?

a. International Accounting Standards Board (IASB)

b. Public Company Accounting Oversight Board (PCAOB)

c. Securities and Exchange Commission (SEC)

d. Financial Accounting Standards Board (FASB)

Reference no: EM132777086

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