The GASB has the authority to establish accounting and financial reporting standards for:
A) Federal government
B) Private not-for-profits
C) State governments
D) None of the above

Question

Quizplus · Accepted Answer

The GASB (Governmental Accounting Standards Board) has the authority to establish accounting and financial reporting standards for state and local governments, including cities, counties, school districts, and other special-purpose government entities. It does not have authority over the Federal government or private not-for-profit organizations.

The GASB Has the Authority to Establish Accounting and Financial