All contracts with U.S. government agencies must comply with cost accounting standards issued by the:
A)FASB
B)SEC
C)IRS
D)CASB

Question

Quizplus · Accepted Answer

CASB (Cost Accounting Standards Board) is a government agency that issues cost accounting standards and regulations. Therefore, option D is the correct choice. FASB (Financial Accounting Standards Board) issues accounting standards for the private sector, SEC (Securities and Exchange Commission) regulates public companies, and IRS (Internal Revenue Service) deals with taxation.

All Contracts with U