A U.S. public company needs guidance in accounting for and reporting a complex derivative transaction that it entered into with a European subsidiary. This company is most likely to find the appropriate guidance in the:
　　a.FASB Accounting Standards Codification.
　　b.International Financial Reporting Standards.
　　c.FASB Statements of Financial Accounting Concepts.
　　d.FASB Statements of Financial Accounting Standards.
　　Answer:A
　　Choice "A" is correct. The FASB Accounting Standards Codification is the single source of U.S. GAAP. U.S. public companies are required to follow U.S. GAAP.
　　Choice "b" is incorrect. The International Financial Reporting Standards cannot be used by a U.S. public company as a source of U.S. GAAP.
　　Choice "d" is incorrect. FASB Statements of Financial Accounting Standards are included in the FASB Accounting Standards Codification, which is the single source of U.S. GAAP.
　　Choice "c" is incorrect. The FASB Statements of Financial Accounting Concepts are not GAAP.