Q430 What is the primary objective of financial reporting by state and local government?

Q430

What is the primary objective of financial reporting by state and local government?

To fulfill the government's statutory duty to report on cash received and cash disbursed

To provide information that can be used to assess a government's accountability.

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.