Which measurement focus should be used in government-wide financial statements?

Question

Quizplus · Accepted Answer

The economic resources measurement focus provides information on the total resources available to the government, including assets, liabilities, and deferred inflows and outflows of resources. This measurement focus is more comprehensive than the current financial resources measurement focus, which only reports on current assets and liabilities. The economic resources measurement focus is appropriate for government-wide financial statements, which are intended to provide a comprehensive view of a government's financial position and activities. The other options are not as appropriate, as they either focus only on certain types of funds or are not as comprehensive in their coverage of a government's financial resources.

Which Measurement Focus Should Be Used in Government-Wide Financial Statements