Which of the Following Is an Objective of Financial Reporting

question 16

Multiple Choice

Which of the following is an objective of financial reporting by state and local governments as established by the GASB? Financial reporting should assist users in

• A)Assessing the management skills of top management.
• B)Determining if current-period revenues were sufficient to pay for current-period services.
• C)Evaluating the cash management operations of the government for the year.
• D)Assessing whether the government provided appropriate services to its constituents in the current year.

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Definitions:

Threats

Potential dangers or harm that can negatively impact individuals, organizations, or systems.

Advanced Technology

Cutting-edge or highly developed tools, systems, or devices that improve efficiency, productivity, or capability in a given field.

Chief Knowledge Officer

An executive responsible for an organization's knowledge management and intellectual capital.

High Quality

Characterized by superior materials, craftsmanship, or performance that meets or exceeds standards.