The GASB sets accounting standards for all of the following except:
A) State and local governments
B) Libraries owned or controlled by governments
C) Governmentally related not-for-profit universities
D) Nongovernmental not-for-profit hospital

Question

Quizplus · Accepted Answer

The GASB sets accounting standards for state and local governments, libraries owned or controlled by governments, and governmentally related not-for-profit universities. However, nongovernmental not-for-profit hospitals are not within the scope of the GASB's accounting standards. These hospitals are subject to accounting standards set by other standard-setting bodies, such as the Financial Accounting Standards Board (FASB).

The GASB Sets Accounting Standards for All of the Following