For Which Types of Organizations Is the Governmental Accounting Standards

question 11

Multiple Choice

For which types of organizations is the Governmental Accounting Standards Board (GASB) responsible for establishing accounting and financial reporting standards?

• A)All state,local,and Federal organizations
• B)All state and local governmental organizations,except for state and local governmental colleges,universities,health care providers,and utilities
• C)All state and local governmental organizations,including government-sponsored colleges,universities,health care providers,and utilities
• D)All governmental and not-for-profit organizations

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Definitions:

Information Sharing

The practice of making relevant, important data and insights accessible to those who need it.

Operating Guidelines

Set rules or protocols designed to guide the operation of systems, processes, or activities.

Proposal

A formal suggestion or plan put forward for consideration or discussion by others.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives.