Why is the FASAB named an advisory board? What is the relationship between the FASAB and the GAO, the Treasury Department, and the OMB?
Answer to relevant QuestionsWhat is the signiﬁcance for ﬁnancial reporting of the many restrictions that are placed upon a government’s resources?What are the four main objectives of federal ﬁnancial reporting as established by the FASAB?What is meant by investments in human capital? In what way are investments in human capital accounted for differently from investments in physical capital?The Business Development Corporation (BDC), a federal agency (ﬁctitious), makes loans to high-tech companies that satisfy speciﬁed criteria. The loans are intended to encourage research and development and are made at ...In 2014, Congress established a small business direct loan program. The program provides that qualifying businesses can obtain loans at a rate 5 percent below that prevailing on Treasury securities of comparable maturity. ...
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