The SEC five commissioners are appointed by the president of the United States with the advice and consent of the Senate. The commission has five separate divisions and the major offices that must report directly to the commission. The five divisions are: Division of corporation finance Division of enforcement Division of investment management Division of economic and risk analysis Division of trading and markets. To choose: The statement about the SEC’s authority on accounting practice is false.

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Chapter 14, Problem 14.1.1E

To determine

Introduction:The SEC five commissioners are appointed by the president of the United States with the advice and consent of the Senate. The commission has five separate divisions and the major offices that must report directly to the commission. The five divisions are:

Division of corporation finance

Division of enforcement

Division of investment management

Division of economic and risk analysis

Division of trading and markets.

To choose:The statement about the SEC’s authority on accounting practice is false.

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