The Governmental Accounting Standards Board (GASB) is the body authorized to establish accounting principles for all state and local governments, both general purpose and special purpose.

Question

Quizplus · Accepted Answer

This statement is true. The GASB is the authoritative body responsible for establishing accounting principles for all state and local governments, including general purpose and special purpose entities. This is a true statement.

The Governmental Accounting Standards Board (GASB) Is the Body Authorized