Which of the following is true regarding the Accounting Standards Board (ASB) in the UK?
a. The US has a greater influence on the standard-setting apparatus in the UK than does the European Union.
b. ASB board members serve on a part-time basis without salary.
c. The Emerging Issues Task Force (EITF) serves both the US and the UK standards-setting boards.
d. The ASB issues accounting standards on its own authority.
ANSWER: D
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