GASB Accounting and Reporting Standards Applicable to Public Colleges and Universities

Multiple Choice

GASB accounting and reporting standards applicable to public colleges and universities:

A) Are now the same as FASB standards to permit comparability between public and private colleges and universities.
B) Permit public colleges and universities to use the AICPA model which differs substantially from the reporting model used by private colleges and universities subject to FASB jurisdiction.
C) Permit public colleges and universities to optionally follow FASB standards.
D) Differ in some significant ways from FASB standards applicable to private colleges and universities.