The purpose of the FASAB is to develop and issue federal accounting standards. The Board comprises ten members. What is the makeup of the board?
A) Two from the executive branch, two from the legislative branch, two who are appointed by the AICPA and five who are not employees of the federal government.
B) Three from the executive branch, three from the legislative branch, and four who are not employees of the federal government.
C) One from the executive branch, one from the legislative branch, two who are appointed by the AICPA and six who are not employees of the federal government.
D) Two from the executive branch, two from the legislative branch, and six who are not employees of the federal government.
Correct Answer:
Verified
Q69: The purpose of the FASAB is to
Q70: Which of the following is correct with
Q71: A federal agency prepared the following
Q72: Operating Expense: Contracted Services is an
Q73: Allotments is an example of which
Q75: Assume an outstanding account payable of a
Q76: Which of the following statements is correct
Q77: Assume a federal agency receives supplies that
Q78: Assume the OMB apportions 1/4th of an
Q79: The entry to record appropriations is notable
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents