Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Which of the following statements best describes the reporting process for profit seeking and governmental entities?
a) Both profit-seeking enterprises and governmental entities use the accrual or cash basis of accounting to record and report transactions.
b) In profit-seeking enterprises the measurement focus is on the flow of current financial resources, whereas the focus for government funds is on all economic resources.
c) Both profit-seeking enterprises and governmental entities have an objective to measure profitability.
d) In profit-seeking enterprises the measurement focus is on the flow of all economic resources of the firm, whereas the focus for governmental funds is on current financial resources.

Sagot :

Answer:

A answer=In profit - seeking enterprises the measurement focus is on the flow of current financial resources, whereas the focus for government funds is on all economic resources.

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.