Which standard issued by the Governmental Accounting Standards Board in 1999 required two distinct sets of financial statements for state and local governments?
A) GASB Statement No. 32.
B) GASB Statement No. 33.
C) GASB Statement No. 34.
D) GASB Statement No. 35.
E) GASB Statement No. 36.

Question

Quizplus · Accepted Answer

GASB Statement No. 34 required state and local governments to prepare two distinct sets of financial statements, including government-wide financial statements and fund financial statements.

Which Standard Issued by the Governmental Accounting Standards Board in 1999