Which of the Following Is Not One of the Objectives

question 20

Multiple Choice

Which of the following is not one of the objectives of Federal Financial Reporting,as outlined in SAFAC 1,which was issued by the FASAB?

• A) Financial reporting should enable evaluation of the service efforts, costs and accomplishments of the reporting entity.
• B) Financial reporting should enable evaluation of the success rate of programs.
• C) Financial reporting should reveal whether financial systems and controls are adequate.
• D) Financial reporting should demonstrate accountability regarding raising and expending money according to budgetary process and laws and regulations.

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Definitions:

Intellectually Flexible

The ability to adapt one's thinking and understanding in response to new information, situations, or perspectives.

Overweight

Being overweight is having a body weight above the standard weight range for one's height, which can lead to health problems.

BMI

Body Mass Index (BMI) is a measure that uses height and weight to estimate a person's body fat.

Selective Optimization

A strategy of focusing on and optimizing resources on selected areas while letting go or reducing investment in others.