Question

Alex is a member of Government Accounting Standard Body (GASB). This accounting body is not a government entity. GASB has been formed in agreement with which accounting federation?

Answer 1

Answer: FINANCIAL ACCOUNTING FOUNDATION (FAF)

Step-by-step explanation:

Answer 2

The creation of the Government Accounting Standard Body (GASB) involved many institutions. It was not just an agreement between accounting federations. The institutions that agreed the creation and standards of GASB are:

• Financial Accounting Foundation
• American Institute of Certified Public Accountants
• Government Finance Officers Association
• National Association of State Auditors, Comptrollers and Treasurers
• seven organizations representing state and local government officials.