Accounting question.... too complicated for me..?

1) The Governmental Accounting Standards Board

a) oversees the activities of the SEC

b) is a private-sector body, which addresses state and local governmental reporting issues.

c) is a division of the securities and exchange commission, which oversees the corporate accouting in annual reports.

d) was terminated when the financial accounting standards board was created.

2) The governmental accounting standards board's main purpose is to develop standards for

a) the general accounting office

b) the federal government

c) state and local government

d) the internal revenue service.

i think the answer to the first question is C but i m not sure... so plzz help...

thanks

2 Answers

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  • Marc
    Lv 7
    1 decade ago
    Favorite Answer

    1. B

    2. C

    The Governmental Accounting

    Standards Board (GASB) is the

    independent organization that

    establishes and improves standards

    of accounting and financial

    reporting for U.S. state and local

    governments.

    Source(s): GASB.org web site
  • 1 decade ago

    just google it.

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