Week 1:Accounting for Governmental Standards and GAAP Hierarchy –

Short Quiz 1

In 1990, the GASB issued a statement requiring disclosure of certain _________ information by
state and local governments that provided OPEB to their retirees.

Select one:
a. AICPA
b. GAAP
c. FASB
d. OPEB
In what year the GASB issued a statement requiring disclosure of certain OPEB information by
state and local governments that provided OPEB to their retirees?

Select one:
a. 1990
b. 1986
c. 1985
d. 1994
The first codification, which was considered authoritative, was issued in ________?

a. 1983
b. 1984
c. 1985
d. 1994
When was the research report detailing the findings of the research on the reporting entity
published?

a. 1986
b. 1987
c. 1984
d. 1983
The history of the GASB can largely be traced by studying its original plan--the project agenda
the GASB ultimately approved in the summer of _______.

a. 1987
b. 1983
c. 1984
d. 1986
It is the most comprehensive topic on the GASB's original agenda.

a. developing financial reporting objectives

b. reexamining the financial reporting entity
c. financial reporting project
d. conducting a complete review of the financial reporting model
 The ________ noted that the proposed SFAS is the result of its broader effort to improve the
quality of financial accounting standards and the standard-setting process

a. FASB
b. AICPA
c. GAAP
d. GASB
Which of the following is not the primary external users of state and local governmental
financial reports?

a. who participate in the lending process

b. those to whom government is primarily accountable
c. those who directly represent the citizens
d. those who do not lend
The Board's first vice-chairman and director of research, decided that one of the first items of
business would be to develop a project agenda.

a. Jim Antonio
b. Tom Allen
c. none of the choices
d. Marty Ives
The ______ conducted a user needs study in 1985 and published the results as a research report
the same year.

a. AICPA
b. FASB
c. SFAS
d. GASB