Question

On what do the government-wide financial statements report? (A) Fiscal accountability.(B) Operational accountability(C) budgetary compliance(D) The cost of government services

Answer 1

Answer: (B) Operational accountability

Explanation: Government-wide financial statements report all financial transactions for the government over the year and usually includes a Statement of Net Position and a Statement of Activities, the sense is report on the government as a whole, These statements are generally used for state and local governments, balances are included too but not necessary.