In Order to Preserve Independence and Impartiality, Financial Accounting Standards

In order to preserve independence and impartiality, Financial Accounting Standards Board (FASB) members are required to:

A) serve the board for the rest of their lives once they are appointed.
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.

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