To enhance users' abilities to evaluate a government's financial results, budget numbers are included on some of the financial statements. Which statements would include the budget numbers?
A)Statement of operations and statement of changes in net debt
B)Statement of operations and statement of cash flows
C)Statement of financial position and statement of operations
D)Statement of financial position and statement of changes in net debt

Question

Quizplus · Accepted Answer

Budget numbers are typically included on the statement of operations and statement of changes in net debt. These statements show the government's revenue, expenses, and changes in their overall debt. Including the budget numbers allows users to compare the actual results to what was originally planned, providing insight into how well the government is managing their finances.

To Enhance Users' Abilities to Evaluate a Government's Financial Results