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Exercise $11-19($Static$)$ Multiple Choice $[$LO $11-1,11-2,11-3,11-4]$

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Exercise $11-19($Static$)$ Part $1$

Under the hierarchy of GAAP for a state and local government, which of the following has the highest level of authority?

Multiple Choice

AICPA literature if specifically made applicable to state and local governments by the AICPA $($and cleared by the GASB$).$

GASB Technical Bulletins.

GASB Implementation Guides.

All of the given items have equal authority