The only objective of the Governmental Accounting Standards Board is to help users determine compliance with finance-related laws, rules, and regulations.

Question

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The GASB has multiple objectives and has issued six concept statements to assist in meeting these objectives which addresses the needs of users of government: accounting information, service efforts and accomplishments, presentation of financial information, required supplementary information and disclosures, definitions and asset measurement.

The Only Objective of the Governmental Accounting Standards Board Is