The federal agency that is in charge of the accounting and auditing standards of financial and performance audits is: Securities and Exchange Commission Internal Revenue Service Governmental Accounting Standards Board Government Accountability Office Question 27 A contractual arrangement where two governments go together with an equity interest to form a common activity would be: Joint Venture Governmental Partnership Economic Development Commission Enterprise Development Commission Question 28 A debt that is going to be serviced by another entity besides the governmental entity is called: General Obligation Debt Conduit Debt Moral Obligation Debt Overlapping Debt