The FASB, GASB, and FASAB all focus their standards on both internal and external financial reporting.

Question

Hayden Kemp

Business

14 July, 10:43

The FASB, GASB, and FASAB all focus their standards on both internal and external financial reporting.

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Answers (1)

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Noelle Tyler · Answer 1

FALSE

Explanation:

The FASB, GASB, and FASAB do not all focus their standards on both internal and external financial reporting.

The GASB - Governmental Accounting Standards Board and the FASB - Financial Accounting Standards Board, tend to focus more on external users of financial information while the FASAB - Federal Accounting Standards Advisory Board tend to focus on both internal and external users of financial information.