GFOA Exam CPFO Topic 11 Question 73 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 73
Topic #: 11

[All CPFO Questions]

FASB (Financial Accounting Standards Board) is a ____________ organization and controlled and supported by a ______________, Financial Accounting Foundation.

AGovernmental Organization, Non-Profit Organization.

BPrivate Organization, Non-Profit Organization.

CNon-Profit Organization, Governmental Organization.

DSemi- governmental Organization, Private Organization

Show Suggested Answer

Suggested Answer: A

by Angella at Aug 08, 2023, 08:08 PM

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Yan

29 days ago

Okay, gotta think this through step-by-step. Private, non-profit organization controlled by a foundation - that's option B, got it.

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Glenna

1 months ago

Hah, if the FASB was a governmental organization, they'd probably make even more confusing accounting standards than they already do!

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Gretchen

2 days ago

Hah, if the FASB was a governmental organization, they'd probably make even more confusing accounting standards than they already do!

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Stevie

11 days ago

B) Private Organization, Non-Profit Organization.

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Mary

15 days ago

A) Governmental Organization, Non-Profit Organization.

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Letha

1 months ago

Wait, I thought the FASB was a government organization. This is trickier than I expected.

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Elbert

15 days ago

B) Private Organization, Non-Profit Organization.

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Alaine

19 days ago

A) Governmental Organization, Non-Profit Organization.

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Noemi

1 months ago

The FASB being a private, non-profit organization controlled by the Financial Accounting Foundation makes a lot of sense. That's definitely the correct answer.

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