Which of the following organizations is responsible for setting accounting standards for state and local governments?
A) Government Issues Task Force (GITF)
B) Government Accounting Standards Board (GASB)
C) Securities and Exchange Commission (SEC)
D) Government Accounting Standards Advisory Council (GASAC)

Question

Quizplus · Accepted Answer

The Government Accounting Standards Board (GASB) is the organization responsible for establishing accounting and financial reporting standards for U.S. state and local governments.

Which of the Following Organizations Is Responsible for Setting Accounting