Governmental accounting normally does not
A)use separate funds to account for various activities
B)incorporate budgetary accounts into the accounting system
C)measure the amount of profit earned during a fiscal year
D)focus on flows of current financial resources

Question

Quizplus · Accepted Answer

Governmental accounting focuses on accountability for resources and the measurement of financial position rather than profit. Therefore, it does not measure the amount of profit earned during a fiscal year.

Governmental Accounting Normally Does Not