Question

Which of the following is not an objective of financial reporting by state and local governments?

A. To assist users in assessing the adequacy of systems and controls.
B. To assist users in assessing financial condition and results of operations.
C. To assist financial report users in comparing actual financial results with the legally adopted budget.
D. To assist in determining compliance with finance-related laws, rules, and regulations

Answer 1

A

Step-by-step explanation:

To assist users in assessing the adequacy of systems and controls is not one of the objectives