Answered: What is GASB, Government Accounting…

Business

Accounting

What is GASB, Government Accounting Standards Board ?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 8Q: What is the role of the Sarbanes-Oxley Act and the Public Company Accounting Oversight Board?

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Question

What is GASB, Government Accounting Standards Board ?

Expert Solution

Step 1

Accounting:

Accounting is a system, or a process of collecting and organizing economic transactions, analyzing, and summarizing the transactions into reports, and communicating the relevant information to the users.

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