Final answer:
The need for managerial accountability to resource providers is true and pivotal for transparent financial reporting and responsible management of resources in government and non-profit organizations.
Step-by-step explanation:
The statement that 'The need for managers to report on their accountability to resource providers has played a central role in shaping accounting and financial reporting practices of government and NFP's' is true. The requirement for accountability is critical as it ensures that the resources provided are used effectively for their intended purposes.
These practices include transparent financial reporting, the provision of annual reports, and audits which are intended to provide assurance to donors, taxpayers, and other stakeholders that the resources are being managed responsibly.