In governmental accounting,emphasis is placed on:
A)Total assets owned by the governmental entity.
B)Generating income form funds employed.
C)Expenditures of funds.
D)The flow of funds through the income statement.

Question

Quizplus · Accepted Answer

In governmental accounting, emphasis is placed on expenditures of funds, as the main goal is to track and report the use of public resources for the benefit of the community. Other factors, such as generating income or tracking total assets, may not be as relevant since governmental entities typically do not operate for profit and may have different goals and priorities than private companies. The flow of funds through the income statement is also important, but it is usually a secondary concern to accurately tracking and reporting expenditures.

In Governmental Accounting,emphasis Is Placed On