The PSAB has identified a number of key characteristics of public sector entities. Which of the following is not one of these characteristics?
A)Have non-exchange transactions
B)Importance of budgets
C)Legislated financial framework
D)May have equity ownership

Question

Quizplus · Accepted Answer

Public Sector Accounting Board (PSAB) focuses on entities that operate based on non-exchange transactions, have significant budget considerations, and operate within a legislated financial framework. Equity ownership is not a characteristic identified by PSAB for public sector entities, as it pertains more to private sector or corporate entities.

The PSAB Has Identified a Number of Key Characteristics of Public