The _______ sets the accounting and financial reporting standards for both state and local governments and public not-for-profits.
A) FASAB
B) FASB
C) GASB
D) AICPA

Question

Quizplus · Accepted Answer

The GASB sets accounting and financial reporting standards for state and local governments in the U.S., governmentally related not-for-profit organizations, such as colleges and universities, health care entities, museums, libraries, and performing arts organizations that are owned or controlled by governments.

The _______ Sets the Accounting and Financial Reporting Standards for Both