Which Organization Has the Authority to Establish Generally Accepted Accounting

question 62

Multiple Choice

Which organization has the authority to establish generally accepted accounting principles for state and local government entities?

• A)The National Council on Governmental Accounting
• B)The Governmental Accounting Standards Board
• C)The Financial Accounting Standards Board
• D)The Municipal Officers Finance Organization

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Definitions:

Computerized Diagnostic

The use of computer systems and software to identify defects or problems in machinery or electronic devices.

Standard Times

Set durations established for completing specific tasks, often used in manufacturing and labor planning.

Hybrid Automobiles

Vehicles that use a combination of at least one electric motor alongside an internal combustion engine to propel the vehicle.

Work Balance

The practice of evenly distributing workload among employees or machines to optimize throughput and minimize idle time.