Chapter 01 Accounting-Present and Past Multiple Choice Questions 1. Which of the following entities would not require accounting information pertaining to their economic activities? A. Social clubs. B. Not-for-profit entities. C. State governments. D. All of the above require accounting information. E. None of the above requires accounting information. 2. The authoritative financial accounting standards-setting body in the United States is presently the: A. Securities and Exchange Commission (SEC) B. International Accounting Standards Board (IASB) C. Public Company Accounting Oversights Board (PCAOB) D. Financial Accounting Standards Board (FASB) E. Accounting Principles Board (APB)