The basic principle of governmental accounting is that budgetary and accounting systems should be integrated and use common classifications and terminology.

Question

Quizplus · Accepted Answer

Using the same classification schemes in both a government's budget and in its accounting system allows governments to classify revenues and expenditures in the same manner and provides the structure needed to allow governments to prepare and monitor their budgets.

The Basic Principle of Governmental Accounting Is That Budgetary and Accounting