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