Multiple Choice Question Which organization oversees proper use of Generally Accepted Accounting Principles? O IRS O FDIC O SEC

The correct answer is: **O SEC (Securities and Exchange Commission)** **Explanation:** The Securities and Exchange Commission (SEC) oversees the proper use of Generally Accepted Accounting Principles (GAAP) for publicly traded companies in the United States. The SEC ensures that companies provide accurate and consistent financial information to protect investors and maintain fair markets. - **IRS (Internal Revenue Service):** Primarily responsible for tax-related matters. - **FDIC (Federal Deposit Insurance Corporation):** Insures deposits at banks and thrift institutions. Therefore, among the options provided, the SEC is the organization that oversees the proper use of GAAP. **Answer:** O SEC