What is the name of the entity that recommends accounting standards for the federal government?

Question

Quizplus · Accepted Answer

The Federal Accounting Standards Advisory Board (FASAB) is the entity responsible for recommending accounting standards for the federal government. The Governmental Accounting Standards Board (GASB) is responsible for recommending accounting standards for state and local governments, while the Financial Accounting Standards Board (FASB) is responsible for recommending accounting standards for private sector entities. The American Institute of Certified Public Accountants (AICPA) is a professional organization for CPAs and does not have the authority to recommend accounting standards.

What Is the Name of the Entity That Recommends Accounting