Certified Government Financial Manager (CGFM) 2026 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 875

Which governing body is NOT involved in the establishment of standards for governmental accounting?

Federal Accounting Standards Advisory Board (FASAB)

International Public Sector Accounting Standards Board (IPSASB)

Governmental Accounting Standards Board (GASB)

National Public Accounting Standards Board (NPASB)

The National Public Accounting Standards Board (NPASB) is not involved in the establishment of standards for governmental accounting, which makes it the correct choice. The other listed boards—the Federal Accounting Standards Advisory Board (FASAB), the International Public Sector Accounting Standards Board (IPSASB), and the Governmental Accounting Standards Board (GASB)—all play significant roles in defining and establishing accounting standards for various governmental entities.

FASAB focuses on federal entities in the United States, IPSASB develops International Public Sector Accounting Standards applicable to public sector entities around the globe, and GASB is specifically dedicated to state and local governments within the U.S. NPASB does not have a recognized role in this context, highlighting its absence from the established framework of accounting standards used by governmental entities.

Get further explanation with Examzify DeepDiveBeta
Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy