Biology Forums - Study Force

Which of the following is not a primary financial reporting objective of state and local government (SLG) reporting?
A.   Provide information necessary to assess the level of LG services and its ability to continue to finance its activities and meet its obligations.
B.   Provide information necessary for investment and credit decisions.
C.   Provide a means of demonstrating the SLG’s accountability that enables users to assess that accountability.
D.   Provide information necessary to evaluate the SLG’s operating results for the period.
(Answer B; Difficult; LO4)

9.   The primary purpose of a fund is
A.   To provide expenditure authority for a government or not-for-profit organization.
B.   To segregate an organization's resources according to the purpose(s) for which they are to be used.
C.   To keep an organization's constituency from trying to insist that the organization utilize resources that it wants to save for a specific future objective.
D.   To confuse and confound the legislative body as to the use and purpose of government resources.

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Thanks so much f_zah1.

You were correct :D

You're very welcome!