Governmental Accounting – Key Concepts, Standards & User Groups Study Guide 2025/ 2026 Comprehensive Accounting Review Guide with Solutions

Governmental Accounting – Key Concepts, Standards & User Groups Study Guide 1 of 10 2026-03-28




Governmental Accounting
– Key Concepts, Standards
& User Groups Study Guide




Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Governmental Accounting – Key Concepts, Standards & User Groups Study Guide.pdf 1 Governmental Accounting – Key Concepts, Standards & User Groups Study Guide.pdf

, Governmental Accounting_ Key Concepts, Standards, and User Groups 2 of 10 2026-03-28



Terms in this set (30)



GASB identified 3 basic groups of users of •Citizenry
governmental accounting information: •Legislative and oversight bodies
•Investors and creditors


Governmental Accounting Standards Board created in 1984, serves as the public sector counterpart of FASB.
(GASB),


Which of the following should be considered part B. Advocate groups within the state.
of one of the three primary user groups of the •Advocate groups within the state are logically associated with citizens,
external financial reports of a state government? citizen groups, etc.
(AICPA 2017)
A. Citizens of a neighboring state.
B. Advocate groups within the state.
C. Preparers of state government financial
reports.
D. Internal managers in the executive branch of
the state government.


Governmental Accounting_ Key Concepts, Standards, and User Groups.pdf 2 Governmental Accounting_ Key Concepts, Standards, and User Groups.pdf