The Financial Accounting Standards Board has the responsibility for setting accounting and financial reporting standards for
A) All not-for-profit organizations that are nongovernmental and business entities.
B) All not-for-profit organizations and business entities.
C) All not-for-profit organizations.
D) Special purpose governments with a business purpose.

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) is responsible for setting accounting and financial reporting standards for all not-for-profit organizations that are nongovernmental and business entities.

The Financial Accounting Standards Board Has the Responsibility for Setting