The board that is similar to the FASB but provides rules for governmental entities is called:
A) Securities and Exchange commission.
B) House Ethics committee.
C) Governmental Accounting Standards Board.
D) Governmental Board for Accounting Reporting.

Question

Quizplus · Accepted Answer

The Governmental Accounting Standards Board (GASB) provides rules and standards for accounting and financial reporting for government entities, similar to how the Financial Accounting Standards Board (FASB) provides rules for private sector companies. The Securities and Exchange Commission (SEC) is a government agency that oversees securities markets and requires public companies to comply with certain accounting standards. The House Ethics committee is a congressional committee that investigates and enforces ethics rules for members of the House of Representatives. There is no such thing as the Governmental Board for Accounting Reporting.

The Board That Is Similar to the FASB but Provides