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:

Poverty Line

The minimum level of income deemed adequate in a particular country to live on and meet basic living needs.

Income

The money received, especially on a regular basis, for work or through investments.

College Graduates

Individuals who have completed a degree program at a college or university.

Property Income

Income from property ownership, including rentals, dividends from investments in real estate, and interest on property savings.