GASB requires that revenues be classified into three categories of restrictiveness based on donor specification.

Name: GASB requires that revenues be classified into three categories of restrictiveness based on donor specification.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

GASB (Governmental Accounting Standards Board) does not require revenues to be classified by donor restrictiveness; this is a requirement under FASB (Financial Accounting Standards Board) for non-profit organizations.

GASB Requires That Revenues Be Classified into Three Categories of Restrictiveness