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primary authoritative body for determining the measurement focus and basis of accounting standards for governmental fund operating statements is the

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Answer: Governmental accounting standards board (GASB)

Explanation: GASB is a non governmental organization that helps to develop generally accepted accounting principles for Government (Federal, states and Local).

It was established in the year 1984, it operates an independent, transparent and participatory system with all stakeholders adequately involved in the discharge of its responsibilities. GASB is funded through the accounting supports that it renders to both the brokers and dealers who buy and sell municipal bonds. This supports attracts a certain amount of money which is utilized to run its operations.

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