The needs of users of government financial reports are the same as those of users of business entity financial reports.

Question

Quizplus · Accepted Answer

The needs of users of government financial reports often differ from those of business entity financial reports because government financial reporting focuses more on accountability and the stewardship of public resources, whereas business financial reporting primarily focuses on profitability and financial position for the benefit of investors and creditors.

The Needs of Users of Government Financial Reports Are the Same