Public sector entities are required to prepare financial reports based on:
A)cash accounting.
B)accrual accounting.
C)fund accounting.
D)All of the given answers are correct.

Question

Quizplus · Accepted Answer

Public sector entities are required to prepare financial reports based on accrual accounting. This method provides a more accurate representation of the entity's financial position and performance than cash accounting or fund accounting.

Public Sector Entities Are Required to Prepare Financial Reports Based