The Governmental Accounting Standards Board is the primary standard-setting body for:
A) All governments.
B) All state and local governments.
C) All governments and all not-for-profit entities.
D) All state and local governments and all not-for-profit entities.

Question

The Governmental Accounting Standards Board is the primary standard-setting body for: 
A) All governments.
B) All state and local governments.
C) All governments and all not-for-profit entities.
D) All state and local governments and all not-for-profit entities.

Quizplus · Accepted Answer

The Governmental Accounting Standards Board (GASB) is primarily responsible for establishing accounting and financial reporting standards for state and local governments in the United States.

The Governmental Accounting Standards Board Is the Primary Standard-Setting Body