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GFOA CPFO Exam - Topic 11 Question 73 Discussion

FASB (Financial Accounting Standards Board) is a ____________ organization and controlled and supported by a ______________, Financial Accounting Foundation.
A) Governmental Organization, Non-Profit Organization.
B) Private Organization, Non-Profit Organization.
C) Non-Profit Organization, Governmental Organization.
D) Semi- governmental Organization, Private Organization

GFOA CPFO Exam - 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.

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Suggested Answer: A

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

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Nickie
10 months ago
Not sure about that, seems a bit confusing.
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Christa
10 months ago
Non-profit all the way!
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Lisha
11 months ago
Wait, I thought it was a governmental organization?
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Luke
11 months ago
I agree, it's supported by the Financial Accounting Foundation.
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Kenneth
11 months ago
FASB is definitely a private organization.
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Geoffrey
11 months ago
I thought FASB was a governmental organization, but now I’m questioning that. Maybe it’s private?
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Kara
12 months ago
I feel like I’ve seen a question like this before, but I can’t recall if it was about FASB or another accounting body.
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Paris
12 months ago
I remember studying that FASB is supported by the Financial Accounting Foundation, which is a non-profit, so I’m leaning towards option B.
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Lashawnda
12 months ago
I think FASB is a private organization, but I'm not entirely sure about the non-profit part.
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Kristin
12 months ago
This looks like a tricky question. I'll need to carefully analyze the skill gaps and team member capabilities to determine the best option.
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Tiffiny
12 months ago
I'm a bit confused by the wording of the question. Let me re-read it and the options to make sure I understand.
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Roy
1 year ago
I think we need to reduce both couplings, but I'm not entirely sure that's the right option. It feels familiar, though.
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Jose
1 year ago
Hmm, I'm not sure about this one. The options don't seem to clearly match the question. I'll have to read it over a few times.
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Jin
1 year ago
Technical, administrative, and physical - those are the main access control types, right? I'm pretty sure those are the right answers here.
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Yan
1 year 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 year 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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Leandro
1 year ago
C) Non-Profit Organization, Governmental Organization.
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Gretchen
1 year 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
1 year ago
B) Private Organization, Non-Profit Organization.
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Mary
1 year ago
A) Governmental Organization, Non-Profit Organization.
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Letha
1 year ago
Wait, I thought the FASB was a government organization. This is trickier than I expected.
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Yolande
1 year ago
C) Non-Profit Organization, Governmental Organization.
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Elbert
1 year ago
B) Private Organization, Non-Profit Organization.
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Alaine
1 year ago
A) Governmental Organization, Non-Profit Organization.
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Noemi
1 year 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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Silva
1 year ago
That's definitely the correct answer.
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Dana
1 year ago
Yes, it is controlled and supported by the Financial Accounting Foundation.
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Felton
1 year ago
I agree, the FASB being a private, non-profit organization makes sense.
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Meghann
1 year ago
Yes, FASB is a non-profit organization and supported by Financial Accounting Foundation.
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Giuseppe
1 year ago
I agree with Lilli, FASB is indeed a non-profit organization.
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Lilli
2 years ago
I think FASB is a non-profit organization.
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