Final answer:
The Governmental Accounting Standards Board (GASB) holds the standard-setting authority over governmentally related not-for-profit organizations BY GASB . OTPION C IS ANSWER
Step-by-step explanation:
The standard-setting authority over governmentally related not-for-profit organizations such as hospitals and colleges and universities is held by the Governmental Accounting Standards Board (GASB).
This answer is specifically addressing the governance of accounting practices in entities like a nonprofit health organization, a private hospital that is governmentally related, and a governmental agency like Health and Social Services. In comparison, the Financial Accounting Standards Board (FASB) deals with the private sector and the Federal Accounting Standards Advisory Board (FASAB) with federal entities.
The GASB provides guidelines ensuring that the financial statements of governmental not-for-profits provide users with the information they need to assess the accountability and to assist in making economic, social, and political decisions. OTPION C IS ANSWER