Which of the Following Is Not a Suggested Objective for Financial

question 31

Multiple Choice

Which of the following is not a suggested objective for financial statements for public sector entities?

• A)To provide an accounting of financial affairs and resources
• B)To enable evaluation of compliance with legislation
• C)To provide information on financing and investing activities
• D)To determine if programs are economical, efficient, and effective

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Definitions:

Executive Committee

a smaller group within a larger organization's board of directors that makes important decisions and policies.

Purpose Clause

A section within a legal document or law that outlines the intent or goal of the document or statute.

Model Business Corporation Act

A model set of laws prepared by the American Bar Association that serve as a guide for state legislations to regulate corporate formation, operation, and dissolution.

Minority Shareholder

An investor who owns less than 50% of a company's shares, holding less control over decisions.