CA1-1 (FASB and Standard-Setting) Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false. Mostly interested in 1-3 as this is the question to be answered for homework. Please provide research and references. Thank You
CA1-1 (FASB and Standard-Setting) Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false.
1. GAAP is the term used to indicate the whole body of FASB authoritative literature.
2. Any company claiming compliance with GAAP must comply with most standards and interpretations
but does not have to follow the disclosure requirements.
3. The primary governmental body that has influence over the FASB is the SEC.
4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard.

Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?

Ido not understand this project overview agricultural commodities are bought and sold through the stock exchange. the price of commodities changes all the time. investors buy many agricultural commodities before they are ready for shipping. when an investor buys an agricultural commodity that is going to be ready in the future, they call this purchasing futures. this might be a future crop, meat that has not yet been processed, or another type of agricultural commodity. for this project, you will have to decide how to spend $10,000. research the new york stock exchange. find one or more agricultural commodities that you are interested in. remember, it may be listed as a future crop. instructions identify the agricultural commodities that you think have the best chance of going up in price. think about what is going on with supply and demand. decide how you will spend your money. you may purchase only agricultural commodities. check the market every day for a week. record the price of your commodity or commodities each day. you may buy or sell your commodities at any time during the week. you may sell your commodities and buy different ones. feel free to experiment with the $10,000 by buying and selling commodities, but make sure to keep a careful record of your activities. at the end of the week, you will write a report on your investments. this report should be structured to include this information: page 1: explain how the stock market works. page 2: list all commodities purchased. describe each in detail. discuss why you selected these commodities. remember, they must be agricultural. page 3: create a chart or graph to illustrate the price of your commodity or commodities over the week’s time. list all of your activity buying and selling. make sure you include prices and details. page 4: write a summary of your experience. describe what you might do differently if you were using actual money. propose potential reasons why the price of each commodity may go up or down.

Which of the statements is true about the values recorded in the balance sheet of a firm?