Which of the Following Is Not an Objective Identified in FASAB

question 41

Multiple Choice

Which of the following is not an objective identified in FASAB Statement of Accounting and Reporting Concepts No. 1 ?

• A) To assist report users in evaluating budgetary integrity.
• B) To assist report users in evaluating the extent to which tax burdens have changed.
• C) To assist report users in evaluating stewardship.
• D) To assist report users in evaluating operating performance.

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Definitions:

Expedience

The quality of being convenient and practical despite possibly being improper or immoral; often associated with taking shortcuts.

Expense

An outlay or expenditure of money, time, or other resources.

Expendable Items

Items meant for one-time use or that have a limited life and are expected to be replaced after a period of use.

Restocked

The process of replenishing goods or supplies that have been depleted, especially in a retail or healthcare setting.