Governmental owned health care providers use the accrual basis of accounting and the economic resources measurement focus.

Question

Quizplus · Accepted Answer

Governmental owned health care providers use the accrual basis of accounting and the economic resources measurement focus to ensure accurate reporting of their financial position and performance. This means that they record revenues and expenses when they are earned or incurred, regardless of when cash is received or paid, and focus on reporting the availability and use of their economic resources, such as assets, liabilities, and equity.

Governmental Owned Health Care Providers Use the Accrual Basis of Accounting