Which of the following would fall under the jurisdiction of the GASB rather than the FASB?

Question

Quizplus · Accepted Answer

The GASB (Governmental Accounting Standards Board) sets accounting standards for state and local governments, while the FASB (Financial Accounting Standards Board) sets accounting standards for private companies and non-governmental entities. Therefore, as a public university, The Ohio State University would fall under the jurisdiction of the GASB. The other options are private non-governmental organizations and would fall under the jurisdiction of the FASB.

Which of the Following Would Fall Under the Jurisdiction of the GASB