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Issuance of practice and consensus bulletins prepared by the AICPA's Accounting and Standard Executive Committee is done at _________ level of GAAP.
Suggested Answer: C
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12 comments · newest first
KA
Kaycee
3 months ago
I agree with Mike, level 2 makes sense for practice bulletins.
SH
Sherron
3 months ago
I feel like it's level 3. More detailed guidance.
MA
Maybelle
4 months ago
I think it's at level 2. Seems right.
GL
Glory
4 months ago
Yeah, AICPA is all about that level 2 action!
MA
Marva
4 months ago
Wait, are we sure about that? Sounds off.
RE
Renato
4 months ago
Nope, it's level 2 for sure!
MA
Malcom
6 months ago
I thought it was level 1?
BA
Barrett
6 months ago
It's definitely at level 2 of GAAP.
DE
Delmy
7 months ago
I’m leaning towards C) 3, but I remember that level 3 is more about non-authoritative guidance. This is confusing!
DA
Dan
7 months ago
I practiced a similar question last week, and I think it was about the hierarchy of GAAP. I want to say it's B) 2, but I could be mixing it up with another level.
LI
Lina
7 months ago
I recall that consensus bulletins are related to the AICPA's guidance, but I can't remember if they fall under level 2 or 3. It feels like a tricky question!
LE
Leandro
7 months ago
I think the answer might be B) 2, but I'm not completely sure. I remember something about practice bulletins being more authoritative than just guidelines.