The primary standard-setting body for accounting and financial reporting by a state-supported college or university is:
A)GASB.
B)FASB.
C)AICPA.
D)All of the above.

Question

Quizplus · Accepted Answer

GASB (Governmental Accounting Standards Board) is responsible for setting accounting and financial reporting standards for state-supported colleges and universities. FASB (Financial Accounting Standards Board) and AICPA (American Institute of Certified Public Accountants) set standards for other types of entities.

The Primary Standard-Setting Body for Accounting and Financial Reporting by a State-Supported