Ch2 5 The types of funds that may be used in governmental accounting are classified into the three categories of governmental, proprietary, and fiduciary. True or False 6 Which of the following is a primary objective of financial reporting by state and local governments? Multiple Choice To provide information that can be used for capital allocation decisions made by external investors. To report on the legal requirements imposed on the government by its elected officials. To provide information that can be used to assess a government's accountability. To fulfill the government's statutory duty to report on cash received and cash disbursed.
Ch2 5 The types of funds that may be used in governmental accounting are classified into the three categories of governmental, proprietary, and fiduciary. True or False 6 Which of the following is a primary objective of financial reporting by state and local governments? Multiple Choice To provide information that can be used for capital allocation decisions made by external investors. To report on the legal requirements imposed on the government by its elected officials. To provide information that can be used to assess a government's accountability. To fulfill the government's statutory duty to report on cash received and cash disbursed.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Ch2
5
The types of funds that may be used in governmental accounting are classified into the three categories of governmental, proprietary, and fiduciary.
True or False
6
Which of the following is a primary objective of financial reporting by state and local governments?
Multiple Choice
-
To provide information that can be used for capital allocation decisions made by external investors.
-
To report on the legal requirements imposed on the government by its elected officials.
-
To provide information that can be used to assess a government's accountability.
-
To fulfill the government's statutory duty to report on cash received and cash disbursed.
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