The Governmental Accounting Standards Board Is Assigned Responsibility for Setting

question 22

Multiple Choice

The Governmental Accounting Standards Board is assigned responsibility for setting accounting and financial reporting standards for

• A) Governments such as federal agencies, states, cities, counties, villages, and townships.
• B) State and local government entities and governmentally-related units and agencies, such as utilities, authorities, hospitals, and colleges and universities.
• C) Not-for-profit organizations.
• D) State and local governments and all not-for-profit organizations.

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Definitions:

Hollow Organs

Organs within the body that have a cavity, such as the stomach, intestine, and bladder.

Smooth

Pertaining to smooth muscle, an involuntary non-striated muscle found within the walls of organs and structures such as the digestive tract, blood vessels, and urinary bladder.

Cardiac

Pertaining to the heart and its functions or diseases.

Skeletal

Relating to the skeleton, the bony framework of the body that protects internal organs and supports the body structure.