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

Question

Quizplus · Accepted Answer

Governmental accounting focuses on tracking and controlling expenditures of funds. This is because governments are primarily concerned with providing services to their constituents, and tracking expenditures is important for ensuring that funds are being used efficiently and effectively. While assets and income are also important in governmental accounting, they are not the primary focus. The flow of funds through the income statement may be of secondary importance, but is not the central focus of governmental accounting.

In Governmental Accounting,emphasis Is Placed On