Question

Which of the following objectives of financial reporting is applicable to governmental entities? Provide information:

A) about economic resources,obligations,net resources,and changes in them
B)useful in making resource allocation decisions
C) useful in assessing management stewardship and performance
D) for assessing service efforts and accomplishments

Answer 1

The objective of financial reporting for governmental entities is to provide information that assists in evaluating service efforts and achievements of governmental operations.

Step-by-step explanation:

The objective of financial reporting that is applicable to governmental entities is to provide information useful in assessing service efforts and accomplishments. Governmental financial reporting helps to ensure transparency and accountability in the use of public resources. Specifically, this information allows for analysis regarding the management stewardship and performance of government operations, which is essential for public trust and efficient resource allocation decisions.