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    FASB and SEC

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    To what extent is it a valid position that we should get rid of the FASB and SEC, since free market forces will make sure that companies report reliable information? Provide justification for your response.

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    It is not a valid position to any extent because in the absence of regulatory forces such as SEC and FASB, companies will be motivated to manipulate ...

    Solution Summary

    This solution discusses the FASB and SEC.