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The Financial Accounting Standards Board (FASB) Multiple Choice Consists entirely of members of the American Institute of Certified Public Accountants. Is responsible for setting auditing standards that all auditors must follow. Is a division of the Securities and Exchange Commission (SEC). Is a private body that helps set accounting standards in the United States.

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Answer:

The Financial Accounting Standards Board (FASB) "is a private body that helps set accounting standards in the United States."

Explanation:

The Financial Accounting Standards Board is a private nonprofit body that are tasked with the responsibility of establishing financial reporting and accounting standards for profit and non-profit organization present in the United States, following GAAPs. The body was established in 1973 and is known to be under the private sector.

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