Knowee
Questions
Features
Study Tools

Year when the Governmental Accounting Standards Board (GASB) was organized?Select one:a.1994b.1985c.1983d.1984

Question

Year when the Governmental Accounting Standards Board (GASB) was organized?

Select one:

  • a. 1994
  • b. 1985
  • c. 1983
  • d. 1984
🧐 Not the exact question you are looking for?Go ask a question

Solution

The Governmental Accounting Standards Board (GASB) was organized in the year 1984. Therefore, the correct answer to your question is:

d. 1984

GASB is responsible for establishing accounting and financial reporting standards for U.S. state and local governments. The standards set by GASB are crucial as they ensure transparency and accountability in the financial reporting of these government entities. Since its establishment, GASB has created a framework that helps in standardizing financial reporting, which is essential for maintaining the integrity of public resources and ensuring that stakeholders, such as taxpayers, have access to accurate financial information.

This problem has been solved

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.