How has the Government Accounting Standards Board (GASB) challenged the FASB’s standard setting powers?
What will be an ideal response?
ANSWER:
The GASB establishes another jurisdiction. It was created by the FAF in 1984 to deal with municipal accounting issues. However, its responsibilities overlap with those of the FASB. Separately issued general-purpose financial statements of such entities as hospitals, colleges and universities, and pension plans are supposed to utilize FASB standards except where the GASB has issued a particular standard covering a specific type of entity or a precise economic practice or activity. As a result of this overlap, GASB standards tend to “muscle out” particular FASB standards for governmental entities.
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From the following options, identify the commonly used shipping term that calls for the seller to arrange to ship the goods and put the goods in the carrier's possession
A) no-arrival, no-sale contract B) F.O.B. (free on board) C) ex-ship D) C.I.F. (cost, insurance, and freight)
Assertiveness is particularly helpful to the leader when
A) attempting to point the group in the right direction. B) practicing servant leadership. C) practicing participative leadership. D) engaging in independent decision making.
In a, the claimants have already worked out the terms of the reorganization, and basically file just to make the agreement official
a. perfunctory filing b. token filing c. prepackaged bankruptcy d. gesture filing
What are the behaviors that compensation needs to enforce?
What will be an ideal response?