Financial reports for state and local governments are used for all the following EXCEPT?
A) Assess financial condition and results of operations
B) Measuring the effectiveness of government services such as police and fire protection
C) Compare actual results with the legally adopted budget
D) Assist in determining compliance with finance-related laws and regulations

Question

Quizplus · Accepted Answer

Financial reports for state and local governments are used to assess financial condition and results of operations, compare actual results with the legally adopted budget, and assist in determining compliance with finance-related laws and regulations. However, they are not used to directly measure the effectiveness of government services such as police and fire protection. That would require separate performance reports or evaluations.

Financial Reports for State and Local Governments Are Used for All