Which of the following rule-making authorities would establish accounting standards for Queens College, CUNY? A. The AICPA

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Which of the following rule-making authorities would establish accounting standards for Queens College, CUNY?

A. The AICPA

B. The FASB

C. The FASAB

D. The GASB

Which of the following statements is false:

Not-for-profit organizations may fall under the rule-making authority of GASB or FASB.

Not-for-profit organizations may make a profit.

Businesses have scarce resources that must be allocated to different uses, governments and not-for-profits are able to command sufficient resources to avoid the need for such allocations.

Related Book For answer-question

Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118155974

6th edition

Authors: Michael H. Granof, Saleha B. Khumawala

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Posted Date: Aug 29, 2022 11:53 PM

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Which of the following rule-making authorities would establish accounting standards for Queens College, CUNY? A. The AICPA

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1 ANSWER IS D The GASB Explanation The Governmental Accounting Standards Board GASB would establis... View the full answer

Government and Not for Profit Accounting Concepts and Practices

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