State and local governments are likely to follow which of the following:

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Quizplus · Accepted Answer

GASB stands for Governmental Accounting Standards Board and it is responsible for establishing accounting and financial reporting standards for state and local governments in the United States. Therefore, it is the best choice in this context. FASB and AICPA are responsible for standards for private sector companies, while AICMA is not a recognized accounting standards-setting body.

State and Local Governments Are Likely to Follow Which of the Following