Responsibility for Establishing Generally Accepted Accounting Principles (GAAP)for Nongovernmental,not-For-Profit Organizations

question 44

Multiple Choice

Responsibility for establishing generally accepted accounting principles (GAAP) for nongovernmental,not-for-profit organizations rests with the FASB and was most clearly established

• A)In the 1930s.
• B)When the FASB was created in 1974.
• C)When the GASB was created in 1984.
• D)In the AICPA's Statement of Auditing Standards No.69 (hierarchy of GAAP)in 1992.

---

Definitions:

Unresolved Conflicts

Psychological term referring to internal or external disputes that an individual fails to find a resolution for, often leading to stress or psychological discomfort.

Rational-Emotive

A psychotherapeutic approach developed by Albert Ellis, focusing on resolving emotional and behavioral problems by changing irrational beliefs into more rational ones.

Cognitive-Behavioral

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Insight Therapy

A form of psychotherapy aimed at increasing a patient’s awareness of underlying motives and defenses.