Which of the Following Organizations Is Responsible for Setting Accounting

question 54

Multiple Choice

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 Exchange Commission (SEC)
• D)Government Accounting Standards Advisory Council (GASAC)

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Definitions:

Agricultural Production

The process and practice of cultivating crops and livestock, involving various activities such as planting, harvesting, and rearing animals for food or other uses.

Aristocratic Ownership

The holding of assets, properties, or businesses by individuals or families with noble lineage or high social status.

New Culture Industries

Businesses and sectors focused on the production and distribution of cultural goods and services, adapting to technological innovations and changing consumer tastes.

Media Design

The craft of creating visual and audio content for various media platforms, focusing on aesthetic, functional, and user experience considerations.