Public colleges and universities follow __________ guidelines while private colleges and universities follow ________ guidelines
A) GAO, FASB.
B) FASB, GAO.
C) GASB, FASB.
D) FASB, GASB.

Question

Quizplus · Accepted Answer

Private colleges follow standards established by the FASB, including those specifically for not-for-profit entities. Public colleges and universities following accounting standards established by the GASB and investor-owned colleges follow FASB.

Public Colleges and Universities Follow __________ Guidelines While Private Colleges