Accounting Questions California State University Northridge Accounting 475 Spring 2022 Homework 1 Question 3
Accounting Questions
Accounting Questions California State University Northridge Accounting 475 Spring 2022 Homework 1 Question 3
3. The financial statements of governments have focused on two forms of accountability. Government-wide financial statements focus the reader on accountability in which way(s):
Fiscal Accountability Operational Accountability
A. Yes Yes
b. No Yes.
c. Yes. No.
d. No No.
Answer
C. No, Yes.
Explanation.
Governmental-wide financial statements focus on operational accountability, and funds focus on fiscal accountability.