Nongovernmental not-for-profits must account for defeasances differently than governments do.

Name: Nongovernmental not-for-profits must account for defeasances differently than governments do.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

Nongovernmental not-for-profits follow accounting standards set by the Financial Accounting Standards Board (FASB), which differs from the Governmental Accounting Standards Board (GASB) standards followed by governments. Therefore, they must account for defeasances differently.

Nongovernmental Not-For-Profits Must Account for Defeasances Differently Than Governments Do