Which of the Following Categories Is Included in the Objectives

question 32

Multiple Choice

Which of the following categories is included in the Objectives of Federal Financial Reporting?

• A)Operating performance.
• B)Congressional performance.
• C)Executive performance.
• D)Accountability.

---

Definitions:

Account Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.

Total Assets

The sum of all current and non-current assets owned by a business, representing its value and operational capacity.

Increase

Increase signifies a rise in value or quantity of a variable or account in the context of finance and accounting.

Expense Account

An accounting ledger that tracks the outflow of economic resources or increase in liabilities, resulting in a decrease in equity.