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.

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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Nickie

3 months ago

Not sure about that, seems a bit confusing.

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Christa

3 months ago

Non-profit all the way!

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Lisha

4 months ago

Wait, I thought it was a governmental organization?

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Luke

4 months ago

I agree, it's supported by the Financial Accounting Foundation.

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Kenneth

4 months ago

FASB is definitely a private organization.

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Geoffrey

4 months ago

I thought FASB was a governmental organization, but now I’m questioning that. Maybe it’s private?

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Kara

4 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

5 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

5 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

5 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

5 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

5 months 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

5 months 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

5 months 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

9 months 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

9 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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Leandro

8 months ago

C) Non-Profit Organization, Governmental Organization.

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Gretchen

8 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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Stevie

9 months ago

B) Private Organization, Non-Profit Organization.

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Mary

9 months ago

A) Governmental Organization, Non-Profit Organization.

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Letha

9 months ago

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

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Yolande

8 months ago

C) Non-Profit Organization, Governmental Organization.

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Elbert

9 months ago

B) Private Organization, Non-Profit Organization.

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Alaine

9 months ago

A) Governmental Organization, Non-Profit Organization.

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Noemi

10 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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