To preserve independence and impartiality, the Financial Accounting Standards Board (FASB) members are required to:
A. serve the board until their retirement.
B. sever all ties with any firms or institutions they served prior to joining the board.
C. sign a non-disclosure agreement and hand over all information of their previous companies to the board.
D. pass a rigorous two-day, four-part examination on major accounting concepts.
Answer: B
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