Major difference between the financial accounting standards

Question

A major difference between the Financial Accounting Standards Board (FASB) and its predecessor, the Accounting Principles Board (APB), is?

1. all members of the FASB serve full time, are paid a salary, and are independent of any public or private enterprises.
2. over 50 percent of the members of the FASB are required to be Certified Public Accountants.
3. the FASB issues exposure drafts of proposed standards.
4. all members of the FASB possess experience in both public and corporate accounting.