### Question
What does agreed accounting standards mean?


### Answer
**Agreed accounting standards** has the following meaning in *48 U.S.C. § 2104*:

> modified accrual accounting standards or, for any period during which the Oversight Board determines in its sole discretion that a territorial government is not reasonably capable of comprehensive reporting that complies with modified accrual accounting standards, such other accounting standards as proposed by the Oversight Board

#### Citation:
  - *48 U.S.C. § 2104*
  - Heading: **CHAPTER 20-PUERTO RICO OVERSIGHT, MANAGEMENT, AND ECONOMIC STABILITY**

