As described in Statement of Federal Financial Accounting Concepts (SFFAC) No. 2 "Entity and Display," which of the following is an accurate list of the three perspectives from which the federal government can be viewed?

Question

Quizplus · Accepted Answer

According to SFFAC No. 2, the federal government can be viewed from three perspectives: organization, budget, and program. Option A only includes the function perspective, option C includes line-item (which is a level of detail within a perspective), and option D includes fund and account perspectives, which are not mentioned in SFFAC No. 2. Therefore, the best choice is B - organization, budget, and program.

As Described in Statement of Federal Financial Accounting Concepts (SFFAC)