Which organization promulgates Statements of Federal Financial Accounting Standards?

Question

Quizplus · Accepted Answer

The Federal Accounting Standards Advisory Board (FASAB) promulgates Statements of Federal Financial Accounting Standards (SFFAS). FASAB was established in 1990 and is an independent advisory body responsible for developing accounting principles and standards for the federal government. The other options listed (A, B, and C) are not responsible for promulgating federal accounting standards.

Which Organization Promulgates Statements of Federal Financial Accounting Standards