1. Does the FASB Codification apply to governmental entities? and why?

2. What are a few of the reasons for which governmental accounting differed from private-sector accounting?

3. Aside from general purpose state and local governments, list three other types of entities that may be subject to GASB's accounting standard

4. What is meant by the term the GASB "hierarchy"? What are the two authoritative levels in the hierarchy, and what should a researcher do if authoritative guidance is not on point?

5. When searching for GASB guidance, why is it preferable to use the GASB codification, as opposed to searching for individual standards on the GASB's website?

6. Are the GASB's original pronouncements (used to populate the codification) authoritative? Why?

7. Describe the information available on a standard's "Status" page on the GASB website.