The GASB and the FASB provide the same criteria for recognizing and reporting services donated to a health care entity.

Question

Quizplus · Accepted Answer

The GASB (Governmental Accounting Standards Board) and the FASB (Financial Accounting Standards Board) have different criteria and standards for recognizing and reporting donated services. GASB sets standards for state and local governments, while FASB sets standards for private sector organizations, including non-profit health care entities.

The GASB and the FASB Provide the Same Criteria for Recognizing