The Governmental Accounting Standards Board has been given authority to establish accounting and financial reporting standards for:
A) all governmental units and agencies.
B) federal, state, and local governments and governmentally-owned utilities, authorities, hospitals, and colleges and universities..
C) all governmental units and all not-for-profit organizations.
D) state and local governmental entities, and governmentally-owned utilities, authorities, hospitals, and colleges and universities.

Question

Quizplus · Accepted Answer

The Governmental Accounting Standards Board (GASB) is responsible for setting accounting and financial reporting standards specifically for state and local governmental entities, including governmentally-owned utilities, authorities, hospitals, and colleges and universities.

The Governmental Accounting Standards Board Has Been Given Authority to Establish