Which of the following characteristics are emphasized in the accounting for state and local government entities?
I.Revenues should be matched with expenditures to measure success or failure of the government entity.
II.There is an emphasis on expendability of resources to accomplish objectives of the governmental entity.
A)I only
B)II only
C)I and II
D)Neither I nor II

Question

Quizplus · Accepted Answer

The accounting for state and local government entities emphasizes the expendability of resources to accomplish objectives, rather than matching revenues with expenditures to measure success or failure. This approach focuses on how resources are used to meet the entity's goals.

Which of the Following Characteristics Are Emphasized in the Accounting