Chapter 9, Problem 16.2EP

Interim government financial reports

1. a.      Are not necessary because administrators and managers of the government are already familiar with the events and activities of the government on a day-to-day basis.
2. b.      Should be prepared and distributed publicly at regular intervals.
3. c.       Are important for budgetary and cash management purposes.
4. d.      Are not necessary as long as the government prepares a comprehensive annual financial report (CAFR).