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.