6 Which of the following is a primary objective of financial reporting by state and local governments? Multiple Choice To provide information that can be used for capital allocation decisions made by external investors. To report on the legal requirements imposed on the government by its elected officials. To provide information that can be used to assess a government's accountability. To fulfill the government's statutory duty to report on cash received and cash disbursed.

The correct answer is “third Option”.

Answered: 6 Which of the following is a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following is a primary objective of financial reporting by state and local governments?

Multiple Choice

To provide information that can be used for capital allocation decisions made by external investors.
To report on the legal requirements imposed on the government by its elected officials.
To provide information that can be used to assess a government's accountability.
To fulfill the government's statutory duty to report on cash received and cash disbursed.

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