Which of the Following Is a Primary Objective of Financial

question 23

Multiple Choice

Which of the following is a primary objective of financial reporting by state and local governments?

• A) To provide information that can be used for capital allocation decisions made by external investors.
• B) To report on the legal requirements imposed on the government by its elected officials.
• C) To provide information that can be used to assess a government's accountability.
• D) To fulfill the government's statutory duty to report on cash received and cash disbursed.

---

Definitions:

Totipotency

The ability of a single cell to divide and produce all of the differentiated cells in an organism, including extraembryonic tissues.

Organogenesis

The phase of embryonic development during which the organs are formed from the three germ layers.

Propagation

The process of increasing the number of plants or animals through natural or artificial means such as seeding, cutting, or breeding.

Ovary

An organ in females that produces eggs or ova, found in pairs in humans and other vertebrates.