Notre Dame University, a private institution, has level "A" GAAP established by the:
A) American Institute of Certified Public Accountants.
B) Governmental Accounting Standards Board.
C) National Association of College and University Business Officers.
D) Financial Accounting Standards Board.

Question

Quizplus · Accepted Answer

This is a private not-for-profit. Accounting and financial reporting standards for profit-seeking businesses and for and for nongovernmental not-for-profit organizations are set by the Financial Accounting Standards Board FASB).

Notre Dame University, a Private Institution, Has Level "A" GAAP