Which of the Following Is Not an Objective of Financial

question 31

Multiple Choice

Which of the following is not an objective of financial reporting by state and local governments?

• A) To assist users in assessing the adequacy of systems and controls.
• B) To assist users in assessing financial condition and results of operations.
• C) To assist financial report users in comparing actual financial results with the legally adopted budget.
• D) To assist in determining compliance with finance-related laws, rules, and regulations.

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Definitions:

Planning Phase

The initial stage in a project or activity where goals are defined, strategies are developed, and tasks are prioritized.

Prioritize Informational Needs

The process of ranking information based on its importance to meet the specific objectives or requirements of a task.

Statement Purpose

A statement of purpose is a written description of one's intentions or objectives, often used in academic and professional contexts.

Work Timeline

An organized schedule outlining the phases, tasks, and deadlines within a project or period of employment.